Twitter plans to price its IPO at $17 to $20 per share, the company disclosed Thursday. At the midpoint of its price range, it would raise $1.3 billion.
The social network plans to initially sell 70 million shares in a deal that values the company at up to $11.1 billion.
Twitter is expected to set a final price for the offering on November 6, according to Wall Street Journal sources cited as "people familiar with the company’s thinking."
[Image: Flickr user Leonard John Matthews]