Now Twitter is a Public Company Opens at $45.10
The micro blogging platform Twitter is now a public company and having successfully opened up its Initial Public Offering (IPO) on New York Stock Exchange (NYSE). The company used TWTR as the stick symbol. Twitter really celebrates their opening at Thursday morning $45.10 per share, about 73% more than the $26 IPO price. According to The Next Web’s report “Sir Patrick Stewart rang the opening bell, opening up the first batch of Twitter’s 545 million shares. The company is set to raise $1.82 billion in funding today and has a fully diluted share (including restricted stocks and employee options) value of $18.3 billion.
This comes after a lot of trigger-happy price calling, with a “first look” from CNBC, apparently based on someone yelling out a number on the trading floor, pegging the stock at $35/share before later calls put it at between $40 to as high as $47.
Today, Twitter is selling 70 million shares of common stock; at $26/share that works out to $1.82 billion. Yesterday, when the $26/share price was revealed, it valued the company at $14.16 billion based on 545 million non-diluted shares or $18.1 billion based on 705 million fully diluted shares “TechCrunch reports.
News Credits – TheNextWeb.com, TechCrunch.com