Twitter's IPO could now raise more than USD 2 billion.
Twitter Inc says in a regulatory filing that it now plans to price its shares at between USD 23 and USD 25 each. It previously planned to sell the shares for between USD 17 and USD 20 each.
Twitter still plans to sell 70 million shares. If all of those shares are sold, the offering's underwriters can buy another 10.5 million shares.
At the USD 25 share price, Twitter's market value would be around USD 15.6 billion. Twitter's value is based on 625.2 million outstanding shares expected after the offering, including restricted stock units and stock options.
The San Francisco-based short-messaging service plans to list its stock under the ticker symbol "TWTR" on the New York Stock Exchange. The shares are expected to start trading this week.
