Twitter Releases Confined Details on IPO
Before actually realizing some shares for them, investors seeking a small piece of the IPO of the famous social networking site, Twitter, would need to wait, said a recent report.
The reason behind the same is the limited information provided by Twitter on the IPO (Initial Public Offering). The company has until now only come up with its private registration to the Securities and Exchange Commission.
Not only are the number of shares, but the offering's time and the shares' price are also being looked forward to by the public.
As per the findings, the investment bankers managing the deal usually dish out IPOs of the much-anticipated IPOs to their long-standing customers and favored clients. Those who are interested in buying these purchase the same in the open market when trading starts.
This time, experts are of the view that Twitter would tag on the lead prepared by Facebook as well as other recent IPOs in withholding a few shares for individual investors. Some 20% of the shares outstanding, which are postponed for individual investors, would probably be there with most recent IPOs.
"Twitter is definitely benefiting from the recent stock market gains of other social networking companies", said University of Florida's professor of finance, Jay Ritter.
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