Facebook leaning toward Nasdaq, reports say

Published April 6, 2012 11:36AM (EDT)

NEW YORK (AP) — Facebook is planning to list its shares with Nasdaq, according to media reports.

That would be a huge coup for the exchange, which competes fiercely with NYSE Euronext Inc., especially for an initial public offering as large as Facebook's, pegged at $5 billion.

The New York Times and CNBC cited anonymous sources. Part of the reason is because of the Internet heavyweights already listed there, which include Apple Inc., Google Inc. and Microsoft Corp.

Facebook Inc. filed papers in early February for an IPO that could place the value of the Menlo, Park, Calif. company at $100 billion. Mark Zuckerberg's social networking site is expected to begin trading under the ticker "FB" in either May or June.

Calls to Facebook and Nasdaq OMX Group, Inc. were not immediately returned Friday.

By Salon Staff

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