Twitter has finally made up its mind about which market it would like to deal on. The micro-blogging website has added an amendment to its S-1 filing with the US Securities and Exchange Commission, mentioning that it will be trading on the New York Stock Exchange (NYSE) under the ticker symbol “TWTR”.There had been a host of strong rumours suggesting that Twitter will be choosing to trade on the NYSE over Nasdaq, where Facebook is listed. Right after Facebook’s famous IPO, Nasdaq faced a list of troubles that led to a $10 million settlement with the SEC. CNBC reported Scott Cutler of the NYSE saying, “This is a decisive win for the NYSE, we are grateful for Twitter's confidence in our platform”.
IPO goes to NYSE
Nasdaq had left no stone unturned as it tried to woo Twitter to hop on over to its side, but it is pretty clear that the numerous lawsuits that Nasdaq had to face could have been the tilting point for the company. There have also been indications that Twitter’s IPO will be coming a little earlier than the expected Thanksgiving date. A slip-up while filing S-1 formalities revealed that the website will be lifting the lock-up agreement with the company’s employees on February 15, 2014. Now, this day is usually slated 90 days after the IPO, which means that the IPO d-day could be November 15. The report has also been corroborated by CNBC.
BREAKING: Twitter IPO date fluid, but slated for Friday, November 15. (via @kaylatausche) $TWTR
— CNBC (@CNBC) October 15, 2013
Twitter had confirmed that it was indeed going to go public, amidst heavy speculation, back in September via a tweet. In October, it revealed that it was looking at raising $1 billion by way of the IPO. The S-1 form also gave us a good look into the company’ figures and revenue which showed that Twitter had raked in $422.2 million but its net loss had increased too.
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