DHAKA: Twitter is to sell 70 million shares priced between $17 and $20 (£10 - £12) when the company makes its debut on the New York Stock Exchange.

This offering - which represents 13% of the company - values Twitter at as much as $10.9 billion (£6.7bn), making it the biggest internet company to go public since Facebook.

Last month the microblogging site announced its intention to float.

However, despite big user figures, the company has yet to turn a profit.

Twitter currently has 200 million active users, who send more than 500 million tweets a day.

The company is expected to post $583m in revenue in 2013, according to advertising consultancy eMarketer, up from $288m in 2012.

The majority of Twitter`s revenue comes from advertising, with companies paying for "promoted tweets".

Source: bbc

BDST: 0322 HRS, OCT 25, 2013
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