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Facebook Picks Nasdaq Listing
April 5, 2012
Facebook reportedly has decided to list its shares on Nasdaq under ticket symbol 'FB'. The selection is a significant boost for the Nasdaq Exchange, which has been hotly competing with the NYSE for the cadre of high tech firms coming out of Silicon Valley.
While big technology companies, like Apple and Google, traditionally have flocked to Nasdaq, the NYSE has aggressively courted Internet companies over the last year, successfully nabbing LinkedIn and Pandora Media, among others. But Facebook is not just any listing, with more than 800 million users and $3.7 billion in revenue, Facebook has come to dominate the social media industry.
The price of Nasdaq shares rose 1.3% in afternoon trading.
Expected Date. The company is widely expected to go public next month, May, and is on track to be the largest offering since Google’s debut in 2004. Depending where the shares are priced, Facebook could reach an overall valuation of $100 billion. Morgan Stanley, JPMorgan, and Goldman Sachs are the lead underwriters.
Click for the referenced story: [Dealbook, 4/5/12].

