Twitter has set a price range of $17 to $20 per share for its much-anticipated initial public offering and says it could raise as much as $1.6 billion in the stock market debut.
Twitter Inc. said in a regulatory filing Thursday that it is putting forth 70 million shares in the offering. If those are sold, the underwriters can buy another 10.5 million shares. At the $20 share price, Twitter’s market value is around $12.5 billion.
That’s a relatively conservative number — some analysts had expected the figure to be as high as $20 billion. The caution shows that Twitter learned from Facebook’s rocky initial public offering last year.
Not surprisingly, Twitter’s IPO will be much smaller than Facebook’s, which was marred by technical glitches on the Nasdaq exchange. Full story for BostonGlobe.com subscribers.