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Reports: Facebook Likely To Be Listed On Nasdaq

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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: Quote) 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.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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After ending the previous session mostly higher, stocks may see some further upside in early trading on Wednesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 17 points. The Bank of Spain on Wednesday boosted its growth projections for Spain this year and the next after the economy grew at a faster rate in the second quarter. In its monthly economic bulletin, the bank raised the growth forecast for this year to 1.3 percent from the 1.2 percent seen previously. The projection for the next year was lifted to 2 percent from 1.7 percent. Bank of England policymakers unanimously decided to maintain the key interest rate and quantitative easing at the meeting held on July 9 and 10, but signaled the possibility of a rate hike late this year as growth became more established.
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