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Facebook picks Nasdaq over NYSE for listing.

FacebookSan Francisco: Facebook Inc has picked Nasdaq over the New York Stock Exchange for its listing in a foremost success for the technology-laden US bourse, sources said.

One of the most popular stock listings in current years, Facebook’s choice of its future exchange translates into a comparatively small sum in annual listing fees. Although, it bestows main bragging rights on Nasdaq OMX Group Inc, already home to the likes of Apple Inc and Google Inc.

A spokesman for Facebook refused to comment. Nasdaq OMX and the NYSE also refused to comment.

The world’s major social network, with over 800 million users, is intended to raise $5 billion or more in IPO expected in May.

The social network that starts as a dorm room project for Harvard dropout Mark Zuckerberg has vaults to Silicon Valley’s top tier within 8 years. Its listing decision deals a blow to NYSE Euronext, which has waged a destructive battle for marquee tech names in past years.

Listing fees array from $38,000 to $500,000 a year on the New York Stock Exchange, and run between $35,000 and $99,500 a year on Nasdaq.


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