Twitter revealed on September 12 it had officially filed for initial public offering, and a new report from The Streetestimates it will raise around $1.5 billion.
According to sources familiar with the matter, the social network will list on the New York Stock Exchange unlike Facebook which listed on the NASDAQ.
It is estimated Twitter will sell 50 to 55 million shares priced from $28 to $30 per share, raising anywhere from $1.4 to $1.65 billion.
This new report seems to be in-line with initial reports stating Twitter would be valued between $15 and $20 billion.
As far as when the IPO will take place, estimates are still placed around late 2013, early 2014.
However, Santosh Rao, senior analyst at Greencrest Capital Management, said that Twitter could have actually filed its confidential S-1 three months prior making the IPO closer than expected.