Twitter is expected to price its stock today ahead of an IPO tomorrow, and according to CNBC, will be pricing its stock at $27 per share.
BREAKING: Underwriters aiming to price Twitter at $27/share (above expected range of $23-25) if market momentum holds. $TWTR
— CNBC (@CNBC) November 6, 2013
This is above the previous range of $23 to $25 per share, and puts it closer to earlier estimates of $28 to $30 per share.
At a price of $27 per share, Twitter would raise around $1.9 billion at a valuation of $14.7 billion.
“A stronger IPO, which would raise more funds for the company, could help it accelerate its revenue growth by providing cash flow flexibility. That said, a larger IPO in terms of dollars raised also raises the specter of a potentially larger fall.”
Twitter will be found under the ticker symbol TWTR, and you can follow our social business section for IPO coverage.