logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT