Last week, Twitter filed papers saying they were planning on selling 70 million shares at a price of $17-$20 per share. Today, Twitter boosted that price range to $23-$25 per share. Clearly, the company believes there is extremely high demand for the offering, and if news stories and chatter are a good gauge it’s hard to disagree with that assumption. previously blogged about important information from Twitter’s S-1 filing.

Though the price range was changed, the size of the offering stayed the same. Twitter will raise up to $2 billion if the overallotment option of 10.5 million shares is exercised. The new pricing range would value Twitter at about $13.6 billion, which is about 13 times its forecast 2014 revenue. Facebook and LinkedIn both trade at about 12 times their forecast 2014 revenue.

How soon will Twitter shares be trading on the market? Twitter will price the IPO on Wednesday November 6. Shares will begin trading on the NYSE on Thursday November 7. The NYSE tested their system recently solely because of the Twitter IPO, so they are certainly expecting a lot of action on this stock.

Twitter is clearly well-aware of competitor Facebook’s IPO problems. Twitter is staying conservative with their size of the offering, because many believe too large of an offering was Facebook’s primary problem.

Twitter also announced on Monday that IBM had sent the company a letter alleging that Twitter has infringed on at least three U.S. patents held by IBM.

Twitter is coming public at a time where the IPO market is very strong. More companies have gone public this year than any year since 2007. Expect to hear a lot about the Twitter IPO in the coming days!

For more information on the Twitter IPO click here.