Facebook Shares Will List On NASDAQ

Posted on Apr 6 2012 - 7:12am by Editorial Staff

Moving a step further towards its giant IPO, Facebook will list its share on Nasdaq. According to CNBC, Facebook will list its shares on the Nasdaq exchange, and not on the NYSE. The company intends to use the ticker symbol “FB” when it does go public. The social giant is looking to raise around $5 billion from the open market in its offering.

Facebook’s IPO is so high profile that investment bankers have agreed to take a fantastically low rate on the deal:

Wall Street firms usually expect payment of 3-7 percent, according to the source, while Bloomberg says its recorded an average of 5.48 percent paid out in 127 offerings last year. However, the magnitude of the deal — both in terms of finance and prestige — and future business opportunities are said to be behind the decision.

(Image Source: Facebook, Featured Image)

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.