NEW YORK: Micro-blogging network Twitter has pegged each share at US $26 in its Initial Public Offering (IPO) of 70 million shares on its New York Stock Exchange debut Thursday.
With this price of 19 euros per share, bidding is expected to raise up to $1.8 billion for the company.
This is based on robust market demand for the much-talked about US public float since Facebook's offering in May 2012.
Twitter has pegged the share price above the anticipated range of $23 - $25.
IPO has valued Twitter at $14.1 billion, which may possibly blow out to $14.4 billion if it exercises an over-allotment option, which it is widely tipped to do.
Should the company over-allot, it would become the second-largest technology IPO since Facebook went public and made $16 billion and Google's 2004 offer, which is according to research firm Dealogic, raised $1.92 billion.
Between 12.8 and 14.5 percent of the company's shares are set to be traded publicly.
The remainder will be held by Twitter's founders and a small number of early investors.
Experts are upbeat about investor support for Twitter which is poised to soar under Chief Executive Officer Dick Costolo, who took over the messaging company's top chair from Evan Williams in October 2010.
Twitter has around 230 million users. (QNA)
