In what will be, perhaps, the most anticipated IPO since Google, it seems that Twitter has confidentially submitted a filing with the SEC for their IPO.
More to come.
finance.yahoo.com
Twitter said in a tweet tonight that it has confidentially submitted a document to the SEC with plans for an initial public offering of stock.
Goldman Sachs ( GS) is the lead underwriter, sources told CNBC. Other underwriters are expected to be named when the S-1 filing is made public.
Shares of social media companies like Facebook ( FB)and LinkedIn ( LNKD)ticked slightly higher in after-hours trading after Twitter disclosed it had filed.
The company did not reveal any additional details, including any information on timing, other than to confirm the tweet is authentic.
Twitter has been valued at around $10 billion. It's IPO has been long-awaited on Wall Street.
The confidential filing was made under the JOBS act, allowing the company to work with regulators on its plans before making them public.
A company has to have less than $1 billion in revenue to file in secret.
Twitter's revelations comes just days after Facebook shares fully recovered from the plunge they suffered after that company's troubled IPO in May 2012 to reach an all-time high. |
