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Twitter proposes offering range of $17-$20/share for IPO

Thursday, 24 Oct 2013 | 6:47 PM ET

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Twitter plans to sell its shares for anywhere from $17 to $20 per share in an initial public offering, the company said on Thursday.

Twitter is offering 70 million shares, suggesting the deal could raise up to $1.4 billion for the social media company.

At the top end of the range, Twitter would be worth some $10.9 billion.

Twitter to sell 70 million shares in IPO
Twitter is to sell 70 million shares at $17-$20 in its IPO, reports CNBC's Julia Boorstin.

(Read more: #TwitterIPO)

The company did not announce a date for the offering, but a source close to the matter said the shares were expected to price on Nov. 6, which would mean the stock would likely start trading on Nov. 7.

The stock will list on the New York Stock Exchange under the symbol "TWTR."

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