Facebook Ticker Symbol Nasdaq
Facebook Ticker Symbol Nasdaq, Facebook will list its shares with Nasdaq, according to media reports.That would be a big win for the Nasdaq, which competes fiercely with NYSE Euronext Inc., especially for an initial public offering as large as Facebook’s, pegged at $5 billion.
The New York Times and CNBC cited anonymous sources on the potential listing.
Calls to Facebook and Nasdaq OMX Group, Inc. were not immediately returned Friday.
Part of the reason the Nasdaq is considered the more attractive option for Facebook is because of the Internet heavyweights already listed there, which include Apple Inc., Google Inc. and Microsoft Corp.
NYSE snared LinkedIn Corp.’s IPO last year. The professional networking site doubled its IPO price in its first day of trading in May 2011 to give it a market value of nearly $9 billion. It was the largest for any Internet company since Google had its IPO in 2004.
Facebook Inc. is in another economic sphere. In papers filed in early February, it was disclosed that Facebook’s IPO could place the value of the Menlo, Park, Calif. company at $100 billion. That would make it one of the world’s most valuable companies eight years after it began as a dorm-room startup at Harvard University.
If Facebook can raise $5 billion by selling a small percentage of its shares to the public, as is expected, it will dwarf all preceding Internet IPOs. The final tally will shift with Facebook’s bankers gauging demand for those shares on Wall Street.