The price values Twitter at more than USD 18 billion based on its outstanding stock, options and restricted stock that will be available after the IPO.
The pricing means the San Francisco-based short messaging service will raise USD 1.8 billion in the offering, before expenses.
Twitter, which has never turned a profit in its seven years of existence, originally set a price range of USD 17 to USD 20 per share for the IPO, but that was designed to temper expectations. It was widely expected that the price range would go higher. In August, for example, the company priced some of its employee stock options at USD 20.62, based on an appraisal by an investment firm.
Twitter's public debut is the most highly anticipated IPO since Facebook's in May 2012.
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But Twitter has valued itself at just a fraction of Facebook and has sought to cool expectations. The company is likely hoping its stock will avoid the fate Facebook's shares, which didn't surpass their IPO price until more than a year after their offering.
Earlier yesterday, Barclays Capital said 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.