Twitter raises IPO price range after strong demands

By IVC Staff Reporter

Nov 04, 2013 09:23 PM EST

The social networking site has felt more optimistic than ever about its IPO for potential investor's reports The New York Time's the Deal Book.

On Monday, Twitter raised its' initial public offering price from USD23 to USD 25 which signalled a strong outlook this week. The latest price range increased Twitter's market value to USD13.9 billion. This amount is certainly more than other young companies in tech such as Zynga and Groupon.

In a filing with the Securities and Exchange Commission on October 24, Twitter had planned to sell around seventy million shares at a price of USD17 to USD20. Analysts claimed the price range was below the expected share price

However, thanks to the strong demand, Twitter had closed IPO order books last Tuesday which was a day early than the original schedule.

Gartner's research director Brian Blau said, "Twitter was reserved in how they approached their I.P.O., and that was a good move on their part. That conservative approach is now paying off for them. This doesn't seem to be spooking people."

The social networking site planned to set IPO price on Wednesday with trading scheduled for Thursday.

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