logo
Share SHARE
FONT-SIZE Plus   Neg

Reports: Facebook Likely To Be Listed On Nasdaq

Facebook Inc., which is anticipated to go public next month, has chosen the Nasdaq for listing instead of the New York Stock Exchange, reports said Thursday.

Although the listing will not benefit Nasdaq much in financial terms, addition of the social network giant will be a matter of honor for the bourse, which in recent times saw a dip in technology listings.

While technology titans such as Apple Inc. (AAPL) and Google Inc. (GOOG) chose Nasdaq for listing, the recent firms such as LinkedIn (LNKN) and Pandora Media (P) are listed on the NYSE.

The advantage of choosing Nasdaq is that it is a fully electronic exchange, while the NYSE has the hybrid model that uses both floor and electronic methods. While the NYSE has more global recognition, it is more expensive compared to Nasdaq.

Facebook is believed to trade under the ticker symbol "FB" after an initial public offer that is expected to raise over $5 billion. Such a listing is said to be the largest for Nasdaq.

The social networking site is a dominant player in the industry with over 800 million users and revenues of $3.7 billion. The IPO is expected to value the company at over $100 billion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After reporting a modest improvement in U.S. consumer confidence in the previous month, the Conference Board released a report on Tuesday showing that its consumer confidence index increased by much more than expected in June. While MNI Indicators released a report on Tuesday showing a notable increase by its Chicago business barometer in the month of June, the index continued to point to a contraction in regional business activity. It was nice while it lasted, but the days of free checked luggage are nearly almost over. JetBlue is hitting its lowest-fare customers with a $20 checked bag fee per one-way trip.
comments powered by Disqus
RELATED NEWS
Trade GOOG now with 
Follow RTT