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Apr 07, 2012, 10.57 AM IST | Source: Reuters

Facebook picks Nasdaq over NYSE for listing: Source

Facebook Inc, which is preparing what would be Silicon Valley's largest IPO, has picked Nasdaq over the New York Stock Exchange for its listing.

Facebook picks Nasdaq over NYSE for listing: Source

Facebook Inc, which is preparing what would be Silicon Valley's largest IPO, has picked Nasdaq over the New York Stock Exchange for its listing, handing an important victory to the technology-laden bourse, a source familiar with the situation said on Thursday.

The world's largest social network, with more than 800 million users, is aiming to raise USD 5 billion or more in a landmark coming-out party currently expected in May.

Its listing selection deals a blow to NYSE Euronext , which has waged an aggressive battle for marquee tech names in past years. The older US exchange snagged LinkedIn Corp and Pandora Media Inc in 2011.

A spokesman for Facebook declined to comment. Nasdaq OMX Group Inc and the NYSE also declined to comment.

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