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Twitter Sets IPO Price

4:12 PM, Oct 24, 2013   |    comments
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Alistair Barr, USA TODAY

Twitter set a price range for its initial public offering Thursday, putting a conservative valuation of just over $10 billion on the social media company.

Twitter said in a regulatory filing that it will raise as much as $1.61 billion by selling between 70 and 80.5 million shares priced at $17 to $20 each.

With 544.7 million shares to be outstanding after the IPO, the offering values the company at $10.08 billion, based on the $18.50 middle of the price range. 

Some analysts and investors had expected Twitter to be valued higher. Indeed, pre-IPO trading of the company's shares suggested a valuation well in excess of $10.08 billion.

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