Another cultural first thanks to Twitter: the New York Stock Exchange held its first-ever IPO test run on Saturday, a mock IPO that was said to be “successful,” reports Mashable.
Unlike the testing the NYSE sometimes does on weekends, this was a full-blown rundown of the impending Twitter IPO with traders from member firms.
According to AP, the NYSE used the mock trial to simulate buying and selling, and the flow of orders.
NYSE spokeswoman Marissa Arnold said in a statement,
“This morning’s systems test was successful, and we’re grateful to all the firms that chose to participate. We are being very methodical in our planning for Twitter’s IPO, and are working together with the industry to ensure a world class experience for Twitter, retail investors and all market participants.”
Indeed, Twitter’s IPO is set to be world-class for the entire tech world, the largest technology IPO since Facebook went public in May 2012.
Twitter will sell 70 million shares between $17 and $20 each for a possible take of $1.6 billion (compare that to Facebook’s $16 billion). Shares will trade under the ticker “TWTR.”