October 17th, 2013
Twitter chooses New York Stock Exchange over Nasdaq
Twitter has surprised many by announcing that it has chosen to sell its shares on the New York Stock Exchange, rather than the more technology-focused Nasdaq.
The announcement came on Tuesday 15th October 2013 following an update to Twitter’s Securities and Exchange Commission (SEC) filing. They will trade under the stock symbol TWTR.
Many people expected Twitter to list on Nasdaq, which was the preferred choice for Facebook’s IPO in 2012. However, in May 2013, following a number of problems and technical glitches which resulted in investors not being able to trade, Nasdaq was fined $10m by the Securities and Exchange Commission.
The head of NYSE’s listings business, Scott Cutler said “We are grateful for Twitter’s confidence in our platform and look forward to partnering with them.”
The initial price offering will be on 14th November 2013, with trading beginning on the following day. Twitter hopes to raise $1bn.< Back to Blog