Facebook Inc. plans to list its shares on the Nasdaq Stock Market, further cementing the exchange operator’s position as the favored venue for the biggest U.S. technology companies, according to a person with knowledge of the matter.
The person declined to be named because the discussions are private. Facebook filed for a $5 billion initial public offering on Feb. 1. While the market capitalization of New York Stock Exchange shares is about triple the value of Nasdaq companies, the latter market operator has about twice as many technology corporations trading for more than $1 billion, according to data compiled by Bloomberg.
The loss is another blow to Chief Executive Officer Duncan Niederauer, who saw his bid to merge with Deutsche Boerse AG fall apart this year when European antitrust regulators blocked the deal. Shares of the company slid 13 percent last year, while Nasdaq OMX climbed 3.3 percent and the Standard & Poor’s 500 Index was little changed.