NEW YORK – Twitter’s IPO could now raise more than $2 billion.
Twitter Inc. says in a regulatory filing that it now plans to price its shares at between $23 and $25 each. It previously planned to sell the shares for between $17 and $20 each.
Read More: NYSE holds ‘successful’ dry run for Twitter IPO
Twitter still plans to sell 70 million shares. If all of those shares are sold, the offering’s underwriters can buy another 10.5 million shares.
At the $25 share price, Twitter’s market value would be around $15.6 billion. Twitter’s value is based on 625.2 million outstanding shares expected after the offering, including restricted stock units and stock options.
Read More: Twitter unseals papers for IPO, hopes to raise up to $1 billion
The San Francisco-based short-messaging service plans to list its stock under the ticker symbol “TWTR” on the New York Stock Exchange. The shares are expected to start trading this week.
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