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Twitter Plans To Sell Shares For $17 To $20 Each

The social network expects to raise about $1.3 billion.

Twitter Plans To Sell Shares For $17 To $20 Each

[Image: Flickr user Leonard John Matthews]

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."