Skip to comments.EXCLUSIVE - Saudi prince to hold Twitter stake, sees IPO by early 2014
Posted on 09/15/2013 6:56:38 PM PDT by Nachum
DUBAI (Reuters) - Saudi billionaire Prince Alwaleed bin Talal says he will not sell any of his shares in microblogging site Twitter Inc when it goes public, and expects the firm's IPO to hit the market later this year or in early 2014.
The prince, a nephew of Saudi Arabia's King Abdullah and owner of international investment firm Kingdom Holding, invested $300 million in the social media giant in late 2011.
"Clearly the speed they're moving with shows that they would like to IPO sooner than later. I believe it will happen either this year or early next year," Alwaleed told Reuters in a telephone interview on Sunday.
"Twitter is a very strategic investment for us. We believe that it is just beginning to touch the surface. We have invested $300 million in the company. We will be selling zero, nothing, at the IPO." He did not say whether he might buy new shares in the offer.
Alwaleed is a closely watched figure in international markets because of successful investments through Kingdom Holding in companies such as Citigroup (NYS:C) and Rupert Murdoch's News Corp (NSQ:NWSA).
Twitter has filed for an initial public offer of shares with U.S. regulators, the company said on Thursday, taking a first step toward what would be Silicon Valley's most anticipated debut since Facebook Inc's (FB.O) listing last year.
(Excerpt) Read more at ca.news.yahoo.com ...
I know they say they wont be selling at po, but all the early investors are are using ipo as a way of cashing out. Theres very little growth left for twitter
Cool, so Twitter will be censoring tweets about Islam....
I say this sarcastically
What Americans invent, someone else will own and use to THEIR advantage. How long before we stop inventing?