Twitter IPO Appears Oversubscribed (Bloomberg)
Interest in Twitter, Inc.’s (TWTR} upcoming initial public offering (IPO) is quickly building, with the banks managing the offering claiming to be oversubscribed even before taking orders for shares. TWTR initially will be offering 70 million shares at a price between $17 and $20. Shares are to be priced less than a week from now, on Nov. 6, and traded the following day. But any of these figures could be changed based upon demand. In fact, Santosh Rao, analyst for Greencrest Capital Management LLC in New York, said, “I think they’ll likely raise the price at least once.” For independent investors like you and I, that could mean paying a significant premium over the $17 price bottom.