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Twitter IPO Today on Wall Street: Shares Hit Stock Exchange At $26

Twitter has set a price of $26 (£16) for its public stock offering due to begin trading on the New York Stock Exchange on Thursday.

The price values the San Francisco-based micro blogging site at more than $18bn (£11.2bn) based on its outstanding stock, options and restricted stock expected to be available after the Initial Public Offering (IPO).

It is offering 70 million shares with an option to buy another 10.5 million.

Twitter had originally set a price range of $17 (£10.57) to $20 (£12.44), but raised the range on Monday signalling an enthusiastic response from prospective investors.

A statement from the company read: “We’ve priced our initial public offering of 70,000,000 shares of our common stock at a price to the public of $26 (£16) per share.

“In addition we’ve guaranteed the underwriters a 30-day option to purchase up to 10,500,000 additional shares of common stock.

“Our shares are expected to begin trading on the NYSE on November 7 under the symbol TWTR.”

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