The Wall Street Journal reported that Elon Musk may organize a public offering of Twitter after he closes a $44 billion acquisition of the social media company.
The newspaper report said that Musk told potential investors that he plans to organize an IPO to return Twitter to public markets.
The newspaper, citing people familiar with the matter, said that Musk may do that, as soon as possible, but not less than 3 years after purchase of majority shares.
Musk’s deal to buy the social media company is expected to finalize later this year, pending approval from Twitter’s shareholders and regulators.
Not all Twitter users, employees or shareholders have welcomed Elon Musk’s plans to buy the company.
Twitter CEO Parag Agrawal tried to calm employee anger last week during a company-wide meeting.
The world’s richest man, who is also the founder and CEO of Tesla and SpaceX, has sold $8.5 billion worth of his shares in the electric car maker to fund part of his purchase of Twitter.
Last month, Twitter announced that net income in the first quarter rose to $513.3 million, compared to $68 million in the same period in 2021, days after agreeing to sell it to Musk.
