NEW YORK NEW YORK (AP) — Twitter has set a price of $26 per share for its initial public offering. It means the company’s stock can begin trading Thursday on the New York Stock Exchange in the most highly anticipated IPO since Facebooks 2012 debut.
The price values Twitter at over $18 billion in accordance with its own remarkable stock, alternatives and also restricted stock thatll be in existence after the IPO. Thats beyond Macys, which includes a marketplace capitalization of $17 billion, and even Bed Bath & Beyond, which is around $16 billion. The price comparisons indicates the short messaging service will expand $1 .8 billion in the providing , before costs . The corporation provides 70 million shares in the IPO , plus an alternative to pay for an extra 10 .5 million . If just about all stock shares are sold , the IPO may possibly raise $2 .09 billion , making it the biggest IPO for an Internet corporation since Facebook raised $16 billion this past year.
On Monday, Twitter raised the price range to $23 and then $25 per share , activating a passionate reaction from prospective investors . That Twitters final price was above the proposed range bodes well for the companys stock. By comparison, Facebook trades at nearly 16 times its own estimated 2013 revenue , in keeping with analyst projections from FactSet . Google Inc . whereas , is trading at about 7 times its net revenue , the figure Wall Street traces that excludes ad commissions .
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