Google announced that it has registered to be listed on the Nasdaq stock exchange. Nasdaq is mainly known for technology constituency. No doubt Google is going to give Nasdaq a well needed boost.
Google has registered to be listed on the Nasdaq stock exchange for its upcoming $2.7 billion initial public offering, it said in a regulatory filing Monday.
The Mountain View, Calif.-based search company, which filed to go public in late April, had not previously disclosed information on its chosen stock exchange, and it has yet to propose a trading symbol. Google"s filing with the U.S. Securities and Exchange Commission indicates the end of a duel between the Nasdaq and the New York Stock Exchange, staunch rivals that were clamoring to host the technology IPO, one of the most widely anticipated this year.
Stock exchanges not only collect healthy fees from registrants, they gain renown from the clout of their listed companies. The Nasdaq is largely known for its technology constituency, which has been battered by a slump of late. Having Google on board could lift its stature. "Google is an outstanding company with a great management team, and we wish the company well with its initial public offering," the NYSE said in a statement Monday. The Nasdaq could not immediately be reached for comment.