Facebook picks Nasdaq to list shares: Report

Facebook’s IPO has generated unprecedented interest since it is expected to be the largest offering since Google went public in 2004

Social networking site Facebook, which will soon launch its initial public offering, has zeroed in on the Nasdaq Stock Exchange to list its shares, a media report said.
 
Billionaire Mark Zuckerberg-led Facebook has chosen the city-based Nasdaq over the New York Stock Exchange for its listing, the New York Times reported.
 
The social networking site will list its shares under the ticker symbol ‘FB’ on Nasdaq, the Times quoted people with knowledge of the matter as saying.
 
The report said getting a company like Facebook to list on it is a “significant coup” for Nasdaq, which has been “embroiled in a battle with the New York Stock Exchange for the darlings of Silicon Valley’’.
 
Companies like LinkedIn and Pandora Media chose NYSE for their listings even as technology giants like Apple and Google have preferred Nasdaq.
 
“It’s a high-profile win for their listings business,” analyst Mr Michael Adams said in the report.
 
“In terms of earnings, the impact won’t be dramatic, but it’s something to be proud of.”

Facebook’s IPO, expected next month, has generated unprecedented interest since it is expected to be the largest offering since Google went public in 2004.
 
Its 800 million users and $3.7 billion in revenue have made it the most popular social networking site and a magnet for advertisers.
 
The IPO could value the social network at about $100 billion and with a possible offering of $5 billion, the Facebook listing will be the largest in Nasdaq’s history, according to data from S&P Capital IQ.
 
While Nasdaq is a fully electronic marketplace, the New York Exchange offers a hybrid model that combines a floor-based marketplace with an electronic one.
 
The exchange is widely considered a more global brand compared with Nasdaq but its pricing structure is more expensive than Nasdaq’s, the report said.
 
Nasdaq was the “undisputed” leader for technology IPO’s till a few years ago but it has been facing competition from the NYSE, which has spent considerable energy to get upcoming internet companies on its side.

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HCC, Coastal Projects win project by North Frontier Railway

The total cost of the project is Rs1.61 billion and will be completed in 28 months

Hindustan Construction Company (HCC) in joint venture with Coastal Projects has been awarded a project by North Frontier Railway to develop a railway tunnel between Kambiron Road and Thingou station on the new railway line being developed between Jiribam and Tupul in Imphal, Manipur. The total cost of the project is Rs1.61 billion (HCC is the lead partner with 60% share - in joint venture) and will be completed in 28 months.

This is the third order HCC has received from North Frontier Railway on Jiribam-Tupul Railway line. In 2010, the company was awarded two contracts of Rs1.97 billion and Rs3.12 billion for construction of two BG tunnels of lengths 3.250 km and 4.694 km.

The project scope involves construction of single line BG tunnel of approximate length of 3.3 km including earthwork, slope protection & stabilization, RCC portal walls, permanent tunnel support, construction of side drains, rock supporting system and ancillary work.

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Reliance Infra introduces Gyanodaya to offer superior customer services

Gyanodaya will enhance the domain knowledge of customer care team and train them to meet the growing expectations of customer

Reliance Infrastructure (RInfra) has launched ‘Gyanodaya’ for building an effective work force capable of handling pressures arising out of the power distribution business.

This unique program is designed by RInfra to achieve excellence in providing customer care service. ‘Gyanodaya’ will enhance the domain knowledge of customer care team and train them to meet the growing expectations of customer.

Customer care teams will now have more information related to power distribution business, which in turn would help them to efficiently handle customer queries.

‘Gyanodaya’, will have elements like Gyaan Sweekaran - which will envisage sharing of best practices; Gyaan Sagar - which will envisage sharing of knowledge and Gyaan vruddhi - which will envisage online self help training module as well as virtual class rooms for training and group discussions.

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