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Twitter wants to issue 70 million shares at a price between 17 and 20 dollars. It is far from 38 dollars shown in the IPO of Facebook.
its next IPO, Twitter said want to raise $ 1.6 billion in a document filed Thursday, October 24 at the American stock market authority (SEC).
The social network wants to issue 70 million shares at a unit price between 17 and 20 dollars , with an over-allotment option on 10.5 million shares (if demand exceeds offer). The U.S. company would be valued 11 billion .
unit amount of the title remains well below estimates of SunTrust Robinson Humphrey (30 dollars) and share price Facebook in his introduction (38 dollars). And for good reason: Twitter, which has widened its losses while increasing its active user base ( 231,700,000 users at the end of September 2013), do not want to know the troubles of its rival .
arrival Facebook Nasdaq last year had turned into a fiasco after the institutions involved in the transaction, including Morgan Stanley, have lowered their forecasts for the company. And Nasdaq OMX, the operator of the market index, was unable to handle the increasing number of simultaneous orders issued during this introduction.
Nasdaq is the cost of this incident ($ 10 million fine inflicted by the SEC) and an unprecedented suspension of trading on August 22. turned his back and Twitter announced in mid-October to prefer him to the New York Stock Exchange (NYSE ).
Twitter IPO is expected by the end of November 2013.
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