Feeds

Twitter jacks up IPO price range as the blabbergasm begins

#theremustbeaprofitsomewhere #right? #RIGHT?

Top 5 reasons to deploy VMware with Tegile

Twitter upped its initial public offering price range to $23 - $25 on Sunday, an updated filing with the Securities and Exchange Commission shows.

The micro-blogging site, which is imminently set to float onto the New York Stock Exchange, said that it had hiked its IPO share price range after talking to the company's underwriters.

It said in the amended SEC filing dated 3 November:

[I]n October 2013, we and our underwriters determined an estimated offering price range of $17 to $20 per share of our common stock to be sold in this offering, and this estimated initial public offering price range was determined prior to conducting any marketing activities related to this offering.

Subsequently ... we and the underwriters determined to increase the estimated offering price range to $23 to $25 per share.

This revised estimated offering price range was the result of discussions between ourselves and the underwriters following the commencement of marketing efforts for the offering and reflect initial indications of interest from potential investors.

It's official, then: Twitter's approach to going public is no longer a conservative one. It means the outfit, which claims to have north of 200 million active users on the service, could raise as much as $1.75bn for its coming-out party on Wall Street if it shifts about 70 million shares.

The company is expected to debut on the NYSE on Thursday with the stock ticker symbol of "TWTR". ®

Beginner's guide to SSL certificates

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.