Twitter Sets I.P.O. Price at $17 to $20 a Share

Twitter announced an initial price range for shares in its IPO at $17-$20 for a valuation as high as $11.1 billion.

Social media company Twitter has planned to sell 70 million shares at $17 to $20 each. At the midpoint of that range, the offering would raise about $1.3 billion and would value Twitter at about $10 billion, excluding options. Including options and restricted stock units, the company would be valued at more than $12 billion.

Twitter has more than three times one of the first big Internet giants. The market value of twitter has more than $127billion.

On Thursday Twitter signals the quickly approaching conclusion of the transformation of the six years old micro-messaging services into a publicly traded company. The price range of Twitter will release before it kicks off a road show for investors on Monday.  

Twitter has about 545 million shares. So Twitter would be valued as high as $10.9 billion slightly above previously reported valuation estimates. The plan of Twitter to sell about 70 million of its shares in the IPO.

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