Saudi Prince, investor of Twitter, will not sell shares in course of IPO

Prince of the Saudi Arabia and billionaire Al-Valid Bin Talal announced that he owns a share in the service of micro blogs Twitter, however he does not plan to sell his shares in the course of IPO at Stock Exchange, informs agency Reuters.

Service Twitter last week has filed required for IPO documents to the Committee on securities and Stock Exchange of USA in confidential mode. Perhaps Twitter uses one of new rules of SEC, according to which companies with annual earning less than one billion USD can file documents confidentially.

The Prince, who invested about $300M in Twitter in 2011, owns International Investment Company Kingdom Holding. According to businessman`s forecast, Twitter will conduct IPO by the end of this year, or in the beginning of the next year.

“Twitter is a strategic investment for us. We consider that it only uses surface of the iceberg. We have invested $300M in the Company, and do not plan to sell anything at IPO”, - said to Reuters Al-Valid Bin Talal. Experts forecast that capitalization of Twitter in the course of IPO will exceed $10B, and Saudi businessman expects indexes higher than $14-15B.