Twitter shooting for IPO pricing at $27 a share - report

According to CNBC, Twitter plans to open trading at more than $23 to $25 per share, as previously suggested.

With its IPO scheduled for tomorrow, Twitter plans to price its shares at around $27, according to CNBC.

Earlier this week, the social networking giant said it planned to ask for between $23 and $25 a share . But CNBC reported this morning that the company has upped the amount to $27.

That's if, CNBC cautioned, "market momentum" holds for Twitter's shares. The company has been on its IPO road show, hawking its shares to Wall Street investors.

Twitter said last month it expected to sell 70 million shares initially, but later the company indicated it might boost that number to as high as 80.5 million. It could raise more than $1.8 billion in the offering if the shares sell at $25 or above.

 

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