The pricing range is set at $17 to $20 per share.
October 25 news, according to foreign media reports, Twitter announced the IPO stock pricing range in an updated prospectus on Thursday. It plans to sell 70 million shares at a price of $17 to $20 per share, raising between $1.25 billion and $1.44 billion.
If calculated at $17 to $20 per share, the maximum valuation of Twitter in the IPO transaction would be $10.9 billion. This is lower than the $15 billion expected by some analysts previously.
On October 4, Twitter first submitted its prospectus to the U.S. Securities and Exchange Commission (SEC). In subsequent updates, Twitter disclosed that it will list on the New York Stock Exchange under the ticker symbol "TWTR" and plans to raise up to $1 billion.
Regarding the timing of the listing, financial intelligence company PrivCo inferred from Twitter's S-1 filing submitted to the U.S. Securities and Exchange Commission (SEC) that the listing date for Twitter would be November 15, 2013.
For the underwriters, Goldman Sachs Group, Morgan Stanley, JPMorgan Chase, Bank of America Merrill Lynch, Deutsche Bank Securities, Allen & Company, and CODE Advisors will serve as underwriters for Twitter's IPO.
In terms of equity structure, among individual shareholders, the stake held by Twitter co-founder Ev Williams is 12%, co-founder Jack Dorsey holds 4.9%, and CEO Dick Costolo holds 1.6%.
Among institutional shareholders, those holding more than 5% include Rizvi Traverse, Spark Capital, Benchmark, Union Square Ventures, and DST. However, Twitter did not disclose specific holding ratios in the document.
In terms of revenue, due to significantly increased expenditures on sales and marketing as well as research and development, Twitter reported a net loss of $64 million in the third quarter this year, triple that of the same period last year. Total revenue for the third quarter this year was $169 million, more than double that of the same period last year. In the first half of this year, Twitter's revenue was $253.6 million, with a net loss of $69.3 million. During the same period in 2012, Twitter's revenue was $122.4 million, with a net loss of $49.1 million.