BUSINESS BRIEF

Twitter IPO at $26 a share; value at $18B

11/7/2013

NEW YORK — Twitter Inc. has set a price of $26 for its initial public offering of stock, which means the company’s shares can begin trading today on the New York Stock Exchange.

The price values Twitter at more than $18 billion based on its outstanding stock, options, and restricted stock that’ll be available after the IPO. Twitter Inc. had originally set a price range of $17 to $20 per share for its IPO, but analysts expected that to go higher.

The San Francisco short messaging service is offering 70 million shares in the IPO. It will begin trading under the symbol “TWTR.”