Twitter’s valuation soared to $18bn after the messaging platform capitalised on surging investor interest to price its shares on Wednesday at $26 each, just above the range it had indicated just two days ago.
Despite a last-minute warning from a top US regulator that technology companies with many users do not always convert them into large profits, Twitter chose to price above its $23-$25 range.
This is more than 50 per cent higher than the $17 bottom end of its original price estimate less than two weeks ago.
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