Twitter Selects NYSE For IPOSocial Media Giant Reveals Top Shareholders 10/15/2013 6:50 PM Eastern
Social media phenomenon Twitter said in Securities and Exchange Commission filings late Tuesday that it has selected the New York Stock Exchange for its much-awaited initial public offering, with reports suggesting the stock could debut on the exchange as early as Nov. 15.
Twitter filed its initial public documents for the IPO earlier this month. The company said it hopes to raise about $1 billion through the offering.
Also in Tuesday's filing Twitter revealed some if its top shareholders after the offering is completed. Leading the pack will be investment firms Rizvi Traverse with 17.9% (85,2 million shares), J.P. Morgan with 10.3% (48.8 million shares) and Spark Capital with 6.8% (32.4 million shares).
Among company officers, founder and chairman Jack Dorsey would have a 4.9% stake, followed CEO Richard Costolo, with a 1.9% interest in the company.
Several published reports citing people familiar with the offering said that Twitter expects to begin its road show for investors on Oct. 25, with pricing of the offering on Nov. 14 and actual trading of the stock on the following day.