Twitter’s IPO plans seem to be right on track, if reports are to be believed. According to a latest one, it looks like Twitter could be making its plans for the IPO public as soon as this week. According to a report by Quartz, Twitter could be looking to trade publicly before Thanksgiving in November, if all goes well. Earlier rumours have all but confirmed that Twitter will be listed on the New York Stock Exchange, in a bid to avoid IPO woes that afflicted Facebook. Even while all may seem to be on track, sources familiar with the situation have told Quartz that the filing could still be delayed due to a variety of factors – some completely outlandish – like changes in the market condition or a threatened shut down of the US federal government.
IPO announcement could come this week (Image credit: Reuters)
Twitter had announced that it had filed for an IPO confidentially on September 12 via a tweet. The company said that it had submitted an S-1 to the SEC for a planned IPO which is meant to take advantage of a provision under the 2012 JOBS Act which allows companies with under $1 billion in annual revenue submit for initial documents confidentially.Essentially, it was not needed by law for Twitter to make the announcement of the IPO public since it had filed for it confidentially, but it looks like the company wanted to avoid being a target of leaks and speculations. Twitter could still be doing a lot of back and forth with the SEC regarding the IPO, but it is not necessary for the company to make these talks public. According to TheStreet.com, speculation is that the IPO will be in the price range of $28 to $30 per share, pegging the value of the company between $15 billion and $16 billion. All eyes on Twitter’s announcement now.
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