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Twitter bumps its IPO price to $23-$25 per share

The new price range for the initial public offering, coming later this week, is up from the previous proposal of between $17 and $20.

Twitter IPO
Wall Street Graphics

Twitter is now looking to raise even more money in its plan to go public.

On Monday, the company boosted the price of its initial public offering to $23 to $25 per share, up from $17 to $20 previously, according to a new filing with the Securities and Exchange Commission.

Twitter said in October that it planned to offer 70 million shares initially but could increase that amount to as high as 80.5 million. An offering of 70 million shares at $25 a piece would raise up to $1.75 billion. The IPO is expected to be priced this Wednesday night, with initial trading to start on Thursday, the Wall Street Journal said.