Twitter Said to Pay 3.25% Bankers’ Fees for $1 Billion Debut

Twitter Inc. is seeking to raise more than $1 billion in an initial public offering and plans to pay bankers a fee of about 3.25 percent, people with knowledge of the matter said.

The social-media service will probably start a roadshow with bankers to promote the deal in the last week of October, said the people, who asked not to be identified because the details aren’t public. Twitter, which is leaning toward listing on the New York Stock Exchange, is still negotiating with that exchange and Nasdaq on the ability to handle the IPO, as well as associated listing fees, one of the people said.