Saudi investor plans to sell shares in the IPO Twitter
Saudi billionaire Prince Alwaleed bin Talal said Sunday that he would not sell his shares of Twitter, when the latter will go for an IPO at the end of this year or early 2014. The prince, a nephew of King Abdullah of Saudi Arabia, is also the holder of an international investment company Kingdom Holding, which in 2011 invested in Twitter around 300 million dollars. "It is clear that the speed at which they move, shows that the company eventually did come out on the IPO. I believe that it will happen later this year or early next year, "- he said in an interview with Reuters. "For us, Twitter - a strategic investment. Convinced that this company is just developing. Previously, we invested U.S. $ 300 mnl in them and will not sell anything in the upcoming IPO", - said Alwaleed. He did not comment on whether the company will buy more exposed to IPO securities Twitter. Experts say Alwaleed Bin Talal - is the authoritative figure in the world of investments, as previously it extremely well was invested in securities of Citigroup and Rupert Murdoch's News Corp. Recall that Twitter itself announced its intention to enter the stock market last week , most of the investors' estimates this Internet company at about $ 10 billion, but the Saudi prince gives a higher score to 14-15 billion in addition, many believe that Twitter will not be posted on the Nasdaq, so as not to provoke unpleasant memories of investors, Linked with Facebook, but would prefer the New York Stock Exchange, NYSE. Alwaleed says he has recently spoke with CEO Twitter Dick Costolo and urged him not to repeat the mistakes IPO Facebook. "The main lesson is simple - do not be too greedy, do not turn up their stock price is too high. This can be a surprisingly good market, and Twitter can make money from mobile technology, as in this regard Twitter is now in a better position than at the time of Facebook IPO ", - he said. Alwaleed also said that while Twitter and become a major communication tool standoff in neighboring Tunisia, Egypt, Libya and Yemen, he was in favor of Twitter to remain free and open. "He must remain free for all, I am completely against anyone who tries to control or censor Twitter and any other social media, even if it's the government. So it only lost the fight."
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