Twitter’s value trebles to £17.9bn ahead of market debut
Excitement surrounding the stock market debut of social networking site Twitter has seen its value treble to £17.9bn.
That figure has been arrived at courtesy of so called grey market trading as traders begin to buy and sell unofficially valued stock on IG Index’s market ahead of the actual float at some point in December – at a price yet to be determined.
IG Market commentator Alastair McCaig said: “The interest has been steadier (than Royal Mail) and at this rate it looks likely to be an even livelier market by the time we come to the first trading day.
“Our price is on the market cap as at the close of business on the day it goes unconditional and at the moment that is between $27.25bn and $29.25bn, almost three times the general market perception when they first announced the IPO.”
Just six weeks ago Twitter was valued at $11bn on the grey market.