Nasdaq reported to have scored Facebook's listing | Albuquerque Express

Nasdaq reported to have scored Facebook's listing

Albuquerque Express Friday 6th April, 2012

• Facebook planning biggest IPO in May

• Facebook's IPO is reported to have been placed the company value at $100 billion

• IPO reported to be targeting to raise $10 billion

NEW YORK - Facebook Inc, which is reported to be preparing for its initial public offering (IPO) in May, will list its shares on Nasdaq, according to people familiar with the matter.

Securing Facebook's listing is a big win for Nasdaq, which was in tough competition with NYSE

Euronext for bagging the deal. It is gaining the reputation as the favoured exchange among high-tech companies with Apple Inc. and Google Inc listed with it.

More over Facebook is seen as a big win as it is one of the most-coveted among the new crop of Internet companies and jockeying ahead in the race for social-media IPOs .

Facebook's offering--which could raise $10 billion--is set to be the biggest Internet IPO since Google's in 2004.

"The Facebook listing I've seen as being similar to the Google listing, which had a similar competition between the exchanges, and a similar win for Nasdaq," said Jay Frankl, senior managing director at FTI Consulting.

NYSE Euronext made gains last year in the technology space, having netted listings from LinkedIn and Pandora Media Inc. and from Chinese social-networking site Renren Inc.

In papers filed in early February, California based Facebook's IPO is reported to have been placed the company value at $100 billion, making it one of the world's most valuable companies.

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