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Twitter helps push new U.S. share listings to 13-year high

Twitter`s $1.8 billion share sale takes the total proceeds from new U.S. share listings so far this year to $50.7 billion, Thomson Reuters data showed on Friday, the strongest year since 2000.



London: Twitter`s $1.8 billion share sale takes the total proceeds from new U.S. share listings so far this year to $50.7 billion, Thomson Reuters data showed on Friday, the strongest year since 2000.

Twitter`s share price jumped 73 percent in opening market trade on Thursday, driving the seven-year-old company`s valuation to around $25 billion.

The amount raised by U.S. stock market flotations is up 26 percent on the same period last year, according to the data, while the number of offerings is the highest since 2004.

Of the total, $37 billion was raised on the New York Stock Exchange , where Twitter chose to go public, while listings on Nasdaq accounted for $13.7 billion.

Bank of America Merrill Lynch is the top-ranked underwriter of U.S. initial public share offerings (IPOs) this year with a 12.2 percent market share.

From Zee News

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