According to CNBC, Facebook’s “FB” stock will list on the Nasdaq when the company officially goes public in May.
The listing decision marks the end of a tense and drawn out courting process between the company and numerous executives at the NYSE and rival Nasdaq. Both exchanges launched aggressive marketing campaigns to woo the multi-billion dollar listing, and have made numerous pitches to the company in recent months. According to CNBC’s Kayla Tausche and Jesse Bergman, the decision “was seen by many observers as a choice of branding and image. The NYSE is widely seen as the home of the traditional ‘blue chip’ company while the Nasdaq’s reputation is more associated with Silicon Valley.”
While the listing decision is a key component of Facebook’s IPO process, advisors close to the company said the mechanics of the listing process will have little impact on how the company structures, executes, and markets the deal. Facebook has filed paperwork with the Securities and Exchange Commission for a $5 billion IPO.
The story is just now developing, so we’ll circle back when we have more.