www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Make me your Homepage
left corner left corner
China Daily Website

Twitter to raise at least $1.8b

Updated: 2013-11-07 11:04
( Agencies)

Twitter to raise at least $1.8b

A banner adorns the facade of the New York Stock Exchange in advance of Twiiter's initial public offering Thursday, Nov. 7, 2013, in New York, US. [Photo/icpress.cn]

New York - Twitter Inc priced its initial public offering above its expected range to raise at least $1.8 billion, in a sign of strong investor demand for the most highly anticipated US public float since Facebook Inc.

The microblogging network priced 70 million shares at $26, above the targeted range of $23 to $25, which had been raised once before.

The IPO values Twitter at $14.1 billion, with the potential to reach $14.4 billion if underwriters exercise an over-allotment option, as they are widely expected to.

If the full overallotment is exercised, Twitter could raise $2.1 billion, making it the second largest Internet offering in the US behind Facebook's $16 billion IPO last year and ahead of Google Inc's 2004 IPO, according to Thomson Reuters data.

The focus now turns to how Twitter stock will fare on Thursday. Some analysts said they expect shares to experience a small pop during the first day. Twelve-month price targets on the stock range from $29 to $54.

Brian Wieser, an analyst at Pivotal Research Group who valued Twitter this week at $29 a share, said the stock appears to have strong institutional investor support and could easily close over $30 a share on its first day.

But he warned that trading could be volatile, given that Wall Street has struggled to value an unorthodox social media company with a newfangled business model.

"There's still so much uncertainty and it's so difficult to even identify how big the opportunity is," Wieser said. "Twitter will make Netflix look like General Electric as a bellwether of stability."

Investor enthusiasm for Twitter, which boasts 230 million users including heads of state and celebrities, is strong even though the microblogging network has never turned a profit.

Moshe Cohen, a professor at Columbia Business School in New York, said pressure on the company could quickly mount if shares lose steam out of the gate.

"Twitter, as a company with no expectations of making profits for several years, needs its investors to have faith," Cohen said. "If that stock starts to show some negative momentum from the beginning, it could last for a while."

Twitter, however, is listing amid the strongest market for US IPOs since 2007, as equity markets soared and uncertainty around the US debt ceiling has largely subsided for now.

A number of IPOs have doubled on their first day of trading, including Container Store Group, restaurant chain Potbelly Corp and software company Benefitfocus Inc.

Twitter hiked its target IPO price on Monday from an initial range of $17 to $20. All of the proceeds from the IPO will go directly to the company, with no insider selling taking place.

Goldman Sachs Group Inc, which led the Twitter IPO, tops the list of US technology bookrunners this year with an 18.3 percent market share, up from 11 percent a year ago when it ranked fifth, according to Thomson Reuters data.

Morgan Stanley and JPMorgan Chase & Co also led the IPO.

Twitter has been focused on avoiding many of the pitfalls that plagued Facebook during its $16 billion IPO last May. The company priced shares more conservatively than Facebook did and chose to list on the New York Stock Exchange rather than the Nasdaq.

Previous Page 1 2 Next Page

 
8.03K
 
...
主站蜘蛛池模板: 91一区二区在线观看精品 | 黄色毛片一级 | 欧美国产合集在线视频 | 国产美女主播一级成人毛片 | 办公室紧身裙丝袜av在线 | 亚洲一区二区三区四区五区六区 | 成人小视频在线播放 | 国产在线精品成人一区二区三区 | 97视频在线观看免费 | 免费日韩一级片 | 欧美整片在线 | 久久免费激情视频 | 亚洲国产成人久久一区二区三区 | 精品久久免费视频 | 成年18网站免费视频网站 | 精品欧美一区二区三区在线观看 | 亚洲一区二区欧美 | 欧美成人免费午夜影视 | 成人午夜视频免费观看 | 欧美视频第一页 | 欧美综合自拍亚洲综合百度 | 亚洲欧美精品一中文字幕 | 香港经典a毛片免费观看爽爽影院 | tom影院亚洲国产日本一区 | 国产成人免费片在线视频观看 | 国产蜜汁tv福利在线 | 久久精品综合免费观看 | 日韩欧美国产精品第一页不卡 | 毛片免费在线观看 | 加勒比色 | 午夜丝袜美腿福利视频在线看 | 成人国产精品高清在线观看 | 99久在线| 欧美xxxx性xxxxx高清视频 | 手机在线成人精品视频网 | 精品亚洲一区二区 | 边接电话边做国语高清对白 | 久久国内精品自在自线400部o | 日本a级毛片视频播放 | 99re久久精品国产首页2020 | 成人国产视频在线观看 |