Twitter, whose public debut is the most highly anticipated IPO since Facebook’s $16 billion offering in May 2012, began trading under the ticker ‘TWTR’.
While Twitter Chief Executive Dick Costolo and founder Jack Dorsey were present on the floor of the New York Stock Exchange to witness the IPO, the microblogging site invited British actor Patrick Stewart and 9-year-old Vivienne Harr to ring the opening bell at the exchange and announce its public debut.
Ahead of its debut at the New York Stock Exchange on Thursday, microblogging site Twitter priced its initial public offering at $26 dollar a share, meaning it would raise $1.8 billion in the 70-million share offering, before expenses. Goldman Sachs & Co, Morgan Stanley, J P Morgan, BofA Merrill Lynch and Deutsche Bank Securities are acting as book-runners for the offering.
Investors are expected to watch Twitter’s public debut with both caution and interest after the problem-riddled IPO of Facebook took away some shine from the social networking site’s public debut on Nasdaq last year. Twitter, which lets people post news and comments in 140-character messages called tweets, is yet to make a profit after seven years in existence. Its loss widened to $64.6 million in the September quarter from $21.6 million a year earlier. Its revenue has gone up to $534.5 million for the year ended September 30. It had 231.7 million monthly users in the quarter ending in September, up 39 per cent from a year earlier.
On Wednesday, Barclays Capital said that Twitter had hired it to be its ‘designated market maker’, a critical role when a stock starts trading. A DMM is an experienced trader who supervises the trading of a company’s stock on the NYSE.
While Twitter Chief Executive Dick Costolo and founder Jack Dorsey were present on the floor of the New York Stock Exchange to witness the IPO, the microblogging site invited British actor Patrick Stewart and 9-year-old Vivienne Harr to ring the opening bell at the exchange and announce its public debut.
Ahead of its debut at the New York Stock Exchange on Thursday, microblogging site Twitter priced its initial public offering at $26 dollar a share, meaning it would raise $1.8 billion in the 70-million share offering, before expenses. Goldman Sachs & Co, Morgan Stanley, J P Morgan, BofA Merrill Lynch and Deutsche Bank Securities are acting as book-runners for the offering.
Investors are expected to watch Twitter’s public debut with both caution and interest after the problem-riddled IPO of Facebook took away some shine from the social networking site’s public debut on Nasdaq last year. Twitter, which lets people post news and comments in 140-character messages called tweets, is yet to make a profit after seven years in existence. Its loss widened to $64.6 million in the September quarter from $21.6 million a year earlier. Its revenue has gone up to $534.5 million for the year ended September 30. It had 231.7 million monthly users in the quarter ending in September, up 39 per cent from a year earlier.
On Wednesday, Barclays Capital said that Twitter had hired it to be its ‘designated market maker’, a critical role when a stock starts trading. A DMM is an experienced trader who supervises the trading of a company’s stock on the NYSE.