TECH
06/11/2013 21:17 GMT | Updated 23/01/2014 18:58 GMT

Twitter Sets IPO Share Price At $26

In one of the most eagerly awaited Initial Public Offerings (IPO) in recent history, Twitter has been priced at $26 a share ahead of the company’s debut on the New York Stock Exchange on Thursday.

The price sets the value of the company at around $18bn (£11bn), making Twitter’s public offering the biggest since Facebook did likewise in 2012.

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Despite the micro-blogging site, which currently boasts around 230 million users, never making a profit, demand for shares has been high, enabling the company to raise the price twice in recent days, from $17 to $20 per share to $23 to $25 per share, ending on $26 per share.

The short messaging service, which was started seven years ago, is offering 70 million shares, plus an option to buy another 10.5 million.

The price was, of course, announced on Twitter.