Ghana's mixed fortune as a dumping ground for e-waste
Who is to blame for the rise of ISIL?
07 Nov 2013 11:33 GMT | Business & Economy, US & Canada, United States
Twitter has set a price of $26 for its initial public offering of stock, which means the company's shares can begin trading on Thursday on the New York Stock Exchange.
The price values Twitter at more than $18bn based on its outstanding stock, options and restricted stock that will be available after the IPO.
The pricing means the San Francisco-based short messaging service will raise $1.8bn in the offering, before expenses.
Twitter, which has never turned a profit in its seven years of existence, originally set a price range of $17 to $20 per share for the IPO, but that was designed to temper expectations. It was widely expected that the price range would go higher.
In August, for example, the company priced some of its employee stock options at $20.62, based on an appraisal by an investment firm.
On Monday, Twitter raised the price range to $23 and $25 per share, signalling an enthusiastic response from prospective investors.
The company is offering 70 million shares in the IPO, plus an option to buy another 10.5 million.
It is set to begin trading on Thursday morning under the symbol "TWTR".
Avoiding Facebook mistakes
Twitter lets users send short messages, or "tweets", in 140-character bursts and has attracted world leaders, religious icons and celebrities, along with CEOs.
It now has more than 230 million users, more than three-quarters of them outside the US.
Twitter's public debut is the most highly anticipated IPO since Facebook's in May 2012.
But Twitter has valued itself at just a fraction of Facebook and has sought to cool expectations.
The company is likely hoping its stock will avoid the fate Facebook's shares, which didn't surpass their IPO price until more than a year after their offering.
Twitter also has tried to avoid the trouble that plagued Facebook's IPO, which was marred by technical glitches on the Nasdaq Stock Exchange.
As a result, the Securities and Exchange Commission fined Nasdaq $10mn, the largest ever levied against an exchange. Those problems likely led Twitter to the New York Stock Exchange.
Datasets from Twitter allows us to accurately gauge the level of polarisation across Egypt's political landscape.
Science & Technology, Egypt
President Maduro denounces 'attack' on ministry accounts and government supporters.
Content on this website is for general information purposes only. Your comments
are provided by your own free will and you take sole responsibility for any direct
or indirect liability. You hereby provide us with an irrevocable, unlimited, and
global license for no consideration to use, reuse, delete or publish comments, in
accordance with Community Rules & Guidelines and Terms and Conditions.
Relatives of inmates killed while in police custody demand justice and investigation into the deaths.
Asia, India, Human Rights
Migrants from Calais refugee camp risk their lives in continuous attempts to cross into UK under the English Channel.
Europe, France, Refugees
A year after truce collapses El Salvador gangs seek new path to engage government in another truce process.
Poverty & Development, Latin America, El Salvador
Cuba offers free sex change surgeries and government-sanctioned Pride marches, but activists say more change is needed.
Human Rights, Cuba, Fidel Castro
At least 27 die and others are missing after carriages tumble into Madya Pradesh river as two trains derail.
Israeli PM says Iran nuclear deal "will bring war" as he attempts to mobilise Jewish Americans against the pact.
Iran, Middle East, Israel
How nurturing chickens is helping elderly communities combat loneliness and associated mental health problems.
Health, Europe, United Kingdom
Travelling from village to village in northern Argentina, one man works to find lasting solutions to endemic problems.
Business & Economy, Environment, Latin America
A four-part series that reveals how a secret pact formed a cartel that controls the world's oil.
Business & Economy, Middle East, Iran
After days on a crowded boat crossing the Mediterranean, one Syrian refugee family strives for a new future in Austria.
War & Conflict, Syria, Immigration