Facebook will list its shares on the Nasdaq Stock Exchange, FOX Business has confirmed, a huge win for the all-electronic marketplace in the high stakes battle to list the social media giant’s stock.
Facebook is expected to debut its shares in May in what is arguably the most widely-anticipated initial public offering since Google (GOOG) went public in 2004.
The Nasdaq OMX Group’s shares rose 35 cents or 1.39% to 25.57 after the news.
Nasdaq’s dominance in listing tech companies slowed after the dotcom bubble burst over a decade ago and a genuine rivalry for tech companies has developed between the Nasdaq and the New York Stock Exchange, owned by NYSE Euronext (NYX).
In the past year, as social media companies have become all the rage among investors, Nasdaq has successfully courted Groupon (GRPN) and Zynga (ZNGA), while the NYSE has won over LinkedIn (LNKD) and Pandora (P).
Neither Facebook, the Nasdaq or NYSE would comment on the report.
Facebook will reportedly list its shares under the symbol ‘FB,’ a shift in the usual policy of the Nasdaq, which traditionally lists its companies using four letters.
Facebook could raise as much as $10 billion in its IPO in a deal that could value the eight-year-old company at $100 billion.