BUSINESS

Twitter IPO to be listed on New York Stock Exchange

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(WJLA) - Twitter, the wildly-popular short message service, will unveil it's initial public offering on the New York Stock Exchange, according to The Street.

Sources tell The Street that the the company's IPO is expected to bring the company about $1.5 billion once it goes public.

Founded in 2006, Twitter has become one of the Internet's 10 most visited sites and boasts more than 500 million registered users.

Unlike its social media brethren that went public last year, Facebook, Twitter apparently chose the NYSE to unleash 50 to 55 million shares at a price between $28 and $30 per share, The Street reports.

Facebook's unsteady IPO was listed on the Nasdaq exchange, and before it became the largest such IPO in American history, its stock price was highly unsteady over the first weeks of trading.

Twitter announced Sept. 12 that it has filed a confidential S-1 for a planned IPO. There's still no exact date for when the company will go public.

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