Twitter is special. Admit it, Twitter is one of those initial public offerings (IPOs) that you just don’t want to miss out on. Why do people like them so much? Well, they’ve created a coveted highly-guarded space for themselves in the social media landscape. They’re well positioned and they have an excellent product. Now this stellar company is looking to take their business to the next level.
They are expected to become a publicly listed company this week, by selling a part of their company to interested investors, raising well needed funds to help with their expansion.
Demand is big for technology stocks. They grow fast, have a large audience and huge potential for big returns. For Twitter, it is no different, it’s probably even more intense, as everybody wants to get in, and get in early. Good luck with getting any of those shares. As Bloomberg reports
Twitter Inc. (TWTR) has attracted more than enough demand to sell all of the shares in its initial public offering, people with knowledge of the matter said.
Banks managing Twitter’s market debut were getting sufficient interest from investors for the IPO to be oversubscribed even before they started taking orders, said one of the people, who asked not to be identified because the information is private. The microblogging site is offering 70 million shares for $17 to $20 each*, according to regulatory filings.
Trading Starts this Week
All eyes will be on the New York Stock Exchange this week as they are expected to swing into action by Thursday morning. Continued from Bloomberg,
Twitter, which is scheduled to price the shares Nov. 6 and start trading the next day, could increase the amount it is offering or the price before going public, depending on demand. Chief Executive Officer Dick Costolo has been visiting major U.S. cities to meet investors to drum up interest for the stock.
For a company that we’ve grown to love, its a proud moment, so all we can say is congratulations to the team and all the best this week.
Update: Twitter Inc. (TWTR) raised $1.82 billion in its initial public offering, after it eventually decided to price the stock at $26 per share, above the initially projected prices.