Trending News|October 29, 2013 01:49 EDT
Twitter IPO Date and Valuation News: Who Are the Underwriters for Twitter’s IPO Filing? [PHOTO]
Twitter IPO Date and Valuation News: Who Are the Underwriters for Twitter's IPO Filing? [PHOTO]
Twitter is preparing to go public by embarking on an 8 city roadshow to pitch the company to potential investors. Twitter is the most eagerly awaited social media company to file and IPO since Facebook went public in 2012. Twitter hopes to learn from Facebook's mistakes during their IPO and have a smooth transition from private to public.
The prospectus is good for Twitter. Michael J. De La Merced and David Gelles from CNBC.com wrote, "This year, 169 companies have gone public in the United States, raising $45 billion, according to Thomson Reuters. Both figures are at the highest levels since the financial crisis of 2008, though the number of offerings remains below the level set before the financial crisis. And nine companies have raised more than $1 billion in their debuts so far in 2013, the largest number in at least five years."
One of the underwriters for the Twitter IPO, who will remain unnamed, said, "A deal like Twitter is large and important, but it's not a test of the I.P.O. market. It's more a reflection of the health of the I.P.O. market and the attractiveness of the company."
Twitter is trying to avoid Facebook's debacle on its first day of trading. The Nasdaq stock market was blamed for some of Facebook's technical problems on day one.
Twitter is planning to sell its shares at $17 to $20, which is less than what some analysts predicted.
The NYSE symbol for Twitter will be TWTR.