On Thursday, a regulatory filing set Twitter’s IPO shares at the potential price range of $17 to $20, and raised its maximum offering to $1.4 billion. The increase could set the value of the social media company at upwards of $10.9 billion. Twitter says it expects to sell 70 million of those IPO shares. However, the prices are not final, and Twitter will have to go through a few more steps to solidify anything.
When trading begins, institutional investors, like Goldman Sachs, will buy at the IPO price, and others will be able to invest the next day at the New York Stock Exchange. Twitter made the decision to use NYSE instead of Nasdaq exchange, and some speculate that the move had to do with Facebook’s IPO fiasco with Nasdaq last year.
Overall, Twitter has an optimistic future. It has seen a 39% increase in the number of users from last year, and its mobile business is continuously growing. Around 70% of Twitter’s revenue is now from mobile ads. The company is still not profitable yet though, and reported a $79.4 million lose in its first financial statement to the public.
