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
Can a washing machine explode just like a bomb? A lawsuit filed in the federal court in New Jersey alleged that there was loud noise and damage to garage wall as the washing machine went off with a violent boom. Samsung is facing federal class action lawsuit from customers. There were similar reports... German lender Commerzbank AG said Thursday that it will cut almost 10,000 jobs, stop paying dividends for the time being and merge two big units as part of a restructuring to become profitable on a sustainable basis by 2020. The bank, Germany's second largest, said that to cover its restructuring costs in the region of 1.1 billion euros, it will cease dividend payments for the time being. Apple Inc. has repeatedly assured customers of its commitment to privacy and said that iMessage conversations are safe. However, Apple's iMessage logs the phone numbers typed by users for a text conversation and shares this information with law enforcement when compelled by court order, according to news site "The Intercept."
comments powered by Disqus
Follow RTT