Twitter Set to Close IPO Books A Day Early Due To Strong Investor Demand
Are you looking to buy shares of Twitter during its initial public offering (IPO) this week? You’ve now got a day less to do so. Twitter, Inc. is set to close its $1.75 billion IPO a day earlier than scheduled, on Tuesday, November 5, at 12:00 p.m. EST. This is due to strong investor demand for Twitter shares, according to two sources.
The online social networking and microblogging service is still set to price shares on Wednesday for trading on the New York Stock Exchange on Thursday, according to the sources.
Due to the Twitter IPO process being private, the sources declined to be named.
Today, Twitter said it was increasing the price range of its IPO to $23 to $25 a share. This is an increase of their earlier range of $17 to $20 per share. Overall, Twitter expects to sell 70 million shares.
Twitter, Inc. operates a public platform for real-time public self-expression and conversation. It provides a wide variety of products for users, including Twitter, a social networking site that allows users to express themselves and create, distribute and discover content; Vine, a mobile application that allows users to create and distribute short looping videos; and #Music, another mobile application that helps individuals discover new music and artists based on tweets.