Micro blogging site, Twitter Inc is planning to announce its Initial Public Offering publically this week, according to people closer to the matter. The social blogging network with more than 200 million members worldwide has said that it has filed S-1 to the Securities and Exchanges Commission for its planned initial public offering.

Twitter, which is expected to be valued at up to $15 billion, is expected to announce its IPO to the public soon. Twitter Inc has indicated that it is picking the New York Stock Exchange instead of Nasdaq for its initial public offering, according to people closer to the matter.

Twitter is valued at about $10.5 billion by GSV Capital Corp, which about a tenth of the value of its bigger social networking peer, Facebook. Company executives have said that they have learned lessons from the Facebook IPO and are committed to not repeating them. The company is aiming to raise about $1.5 billion form the IPO. Twitter may sell between 50 million and 55 million shares in the offering with a price range of between $28 and $30 per share.

The San Francisco-based company did not announce the date for the offering and did not provide additional details relating to the proposed offering yet. Under the current regulations, once a company has filed paperwork with US regulators for a planned IPO it is not allowed to discuss the matter with the media.