Twitter is to list its shares on the New York Stock Exchange (NYSE) under the symbol ‘TWTR’ for its much-hyped IPO, which now looks like it could be on Friday, 15 November. The San Francisco, California-headquartered Twitter has issued an amendment to its S-l filing with the U.S. Securities and Exchange Commission (SEC), revealing it has picked the NYSE to IPO, ahead of NASDAQ.
CNBC.com reported the new date for Twitter’s IPO.
Twitter’s choice of NYSE (the New York Stock Exchange) is flying against fellow social network Facebook’s choice of NASDAQ for its IPO in May 2012, which turned out to be fairly tumultuous.
Despite the news circulating that the IPO might happen on 15 November, however, Twitter has declined to confirm or deny this date.
Prior to its amended S-1 form, which it filed with the SEC yesterday, Twitter had tentatively set 24 November for when it would reveal details of its IPO.
Twitter is on a mission to raise in the region of US$1bn when it goes public.
“We intend to list the common stock on the New York Stock Exchange under the symbol ‘TWTR’,” the company detailed in its revised filing.
Describing itself as an “emerging growth company” under the federal securities laws in the US, Twitter penned that this would mean that it, as such, may elect to “comply with certain reduced public company reporting requirements for future filings”.
The underwriters expected to deliver the shares against payment in New York include Goldman, Sachs & Co, Morgan Stanley, J.P. Morgan, Bank of America Merrill Lynch, Deutsche Bank Securities, Allen & Company LLC and CODE Advisors.
Twitter has also detailed ‘risk factors’ for those who may be contemplating buying shares of the common stock on the day of its IPO.
Ahead of the IPO, Twitter will be traversing across the US to carry out roadshows.
Twitter image via Annette Shaff/Shutterstock
