Twitter has revealed it hopes to raise $1.4bn through shares when it lists on the stock exchange.
The social media giant plans to sell 70m shares at $17 - $20 each to raise the figure, equivalent to £865m.
The number of shares Twitter will release is equivalent to 13% of the company's equity, giving it an overall value of $11bn.
Analaysts believe the valuation - lower than that forecast - was a move on Twitter's part to avoid any dip in share prices as experienced by Facebook after it floated last year.
But Facebook's shares have since recovered and are now well above the listed price.
While Twitter has never made a profit, its revenue has grown from just $28m in 2010 to $317m by the end of last year, while it made a loss of $69m in the first six months of 2013.
Advertising provides 85% of its income, and more than 65% of the firm's advertising revenue in 2013 came from mobile devices, which were also used by 75% of account holders to access the site.
The company said in a filing in early October that it has 218m users a month and 500m tweets sent daily.
It will price its IPO on November 14 and begin trading the next day.