Twitter to offer shares priced between 17-20 USD in IPO

Twitter is reportedly going to offer shares priced between 17-20 dollars in its public debut in the coming month.

The microblogging site which will trade under the stock symbol 'TWTR' and list under the New York Stock Exchange, has revealed that unlike Facebook, it will price its shares a little conservatively and also float a smaller size of shares.

According to stuff.co.nz, Twitter's valuation of 10.9 billion dollars is a little underwhelming than the market expectations of 15 billion dollars as the company hopes to raise up to 1.6 billion dollars from its 70 million shares on sale.

Meanwile, rival Facebook had initially priced its shares at a minimum of 28 dollars before ultimately raising it to 38 dollars and had also increased the size of its float before the IPO in 2012.

The report said that Twitter is expected to set the price on November 6, which means it could go public as early as November 7.

Twitter further revealed that there will be 544,696,816 shares of its common stock outstanding after the offering.