Snap is eyeing a range of $17 to $18 per share for its upcoming IPO, sources told CNBC on Tuesday.
Underwriters in the IPO have communicated the $17 to $18 per share range to some investors, saying that this is where the deal will likely price, although nothing is certain at this time.
That would put the public offering above its range and value the company at $25 billion, sources said. Shares of the ephemeral messaging and augmented reality company are expected to hit the public market on Thursday.
A final decision will be made tomorrow on the price of Snap's IPO. A representative from Snap declined to comment on the pricing discussions.