 "Twitter IPO to be listed on New York Stock Exchange")
It looks like Twitter has finally made a decision about which market it will go to when it finally opens up its IPO. According to The Street, the micro-blogging website is going to list itself on the New York Stock Exchange. The IPO is expected to be massive, with an estimated value of around $1.5 billion. Conversely, Facebook went with a Nasdaq listing, and is en route to selling more than $16 billion worth of stock.
When the IPO kicks off, sources have stated that Twitter may sell between 50 million and 55 million shares, pricing them between $28 and $30 each. This will raise the company around $1.4 billion to $1.65 billion. This would eventually put it on the same map as Facebook, pushing the micro-blogging website’s overall worth up to around $15 bliion and $16 billion. However, all of these numbers might change in the time before the IPO actually starts.
Twitter’s IPO will apparently be listed on NYSE (Image credit: Reuters)
According to Senior Analyst at Greencrest Capital Management, Santosh Rao, it normally takes between 30 and 60 days of discussion with the SEC before a deal is finalised, and going by this, Twitter’s IPO is expected to start sometime between December 2013 and January 2014.
The company has been valued at $9 million as judged by private sales by employees of their stock to BlackRock Inc which puts Twitter a lot behind arch ival Facebook which went public with a valuation of $100 billion. Facebook went public last year but had a tough time struggling with shares till very recently. Facebook’s public story will be keenly retraced all over again as Twitter plans to go public now. Post Facebook, the micro-blogging website is the biggest IPO to have been filed. Mark Zuckerberg almost prophetically spoke about the IPO story at the TechCrunch Disrupt conference two days ago, urging Twitter to not be afraid to go public with an IPO.
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