Twitter shares priced at $26 each

Nov 7 – Twitter shares have been priced at $26 each, ahead of its debut on the New York Stock Exchange (NYSE) on Thursday.

 

That is above the $23 to $25 range announced on Monday and values the short messaging service at more than $18bn (£11bn).

 

That makes it the biggest market debut for a technology firm since Facebook went public in May 2012.

 

Twitter has attracted 230 million users since starting seven years ago, but is yet to make a profit.

 

NYSE debut

 

Twitter is selling 70 million shares, which will raise $1.82bn, for the company.

 

Unlike Facebook, Twitter has chosen to trade its shares on the New York Stock Exchange.

 

Facebook's debut on the Nasdaq – traditionally the market of choice for technology firms – was marred by delays and problems with orders.

 

The NYSE has already tested trading of Twitter's shares to try to avoid any technical hitches.

 

The shares will trade under the symbol "TWTR".

 

TOI