Twitter flags initial public offering

Twitter flags initial public offering

Twitter has filed with the US Securities and Exchange Commission for an initial public share offering.

"We’ve confidentially submitted an S-1 to the SEC for a planned IPO," the company tweeted this morning. "This Tweet does not constitute an offer of any securities for sale," it said.

In the US the company has been valued at around US$10 billion. US commentators are already speculating about which company will be the lead underwriter for the offering.

Facebook's IPO last year, although beset with problems like a Nasdaq IT crisis that resulted in trades wrongly placed, raised US$16 billion.

US companies can file confidentially with the commission if their revenue is less than $1 billion, under rules brought in with the JOBS (Jumpstart our Business Startups) Act.