Facebook to List on Nasdaq - Wall Street Journal

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Facebook to List on Nasdaq - Wall Street Journal Apr 5th 2012, 19:11 By JACOB BUNGE And CHRIS DIETERICH NEW YORK—Nasdaq OMX Group Inc. has scored the listing of Facebook shares, according to people familiar with the matter, winning what has been seen as the most-coveted listing among a new guard of Internet businesses. Securing Facebook Inc.'s listing burnishes Nasdaq's reputation as the favored exchange among high-tech companies, home to firms like Apple Inc. and Google Inc. A Facebook spokesman declined to comment. Nasdaq and NYSE Euronext compete fiercely over listings, and last year the intensity accelerated amid the wave of Internet IPOs from the likes of LinkedIn Inc. and Groupon Inc. Nasdaq won Groupon, Zynga Inc. and the Expedia-spinoff TripAdvisor Inc. last year of after seeing other social media companies like LinkedIn and Pandora Media Inc. choose archrival NYSE Euronext. Exchanges view listing recruits as a point of pride and major source of revenue. Companies pay annual fees to list their stock and exchanges also garner listings-related income from the sale of market data and ancillary services offered to their listed companies Facebook CEO Mark Zuckerberg Last year, listings and issuer services brought in about $372 million for Nasdaq OMX, accounting for about 22% of revenue. Facebook said in February that it planned to raise as much as $10 billion in the offering that could value the social network as high as $100 billion. In 2011, NYSE Euronext listed 44% of the technology IPOs in the U.S., bringing 19 new offerings to the U.S. market, according to data from NYSE. So far this year, NYSE has listed approximately 63% of qualified technology IPOs, and approximately 60% of all qualified transactions. Facebook's giant offering would top rival Google's 2004 IPO, which holds the record for the largest U.S. Internet IPO by raising $1.9 billion at a valuation of $23 billion. Among U.S. companies, only Visa Inc., General Motors Co. and AT&T Wireless have held larger offerings than $10 billion. Write to Jacob Bunge at jacob.bunge@dowjones.com This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers. Five Filters recommends: Donate to Wikileaks.

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