October 25th, 2013
10:02 AM ET

Twitter Sets IPO Stock Price Between $17 And $20

Looking to buy Twitter stock in the company's initial public offering? We now know about how much that'll cost you, CNN's Christine Romans reports.

In a regulatory filing late Thursday, Twitter set a preliminary price range of $17 to $20 per share for its IPO. It also raised the maximum size of its offering to $1.4 billion, up from its previous $1 billion.

The company has about 545 million shares outstanding, so Twitter would be valued as high as $10.9 billion - slightly above previously reported valuation estimates.

Twitter plans to sell about 70 million of its shares in the IPO.

The company's target price range isn't binding, so we don't yet know what price Twitter will ultimately set for its IPO. The company will file several more rounds of paperwork before the IPO to provide a variety of new details - anything from setting a new price range, to more information about items like executive compensation.

Twitter will have to set its final price the night before it begins trading, but that won't be for another few weeks.

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