Twitter reportedly leaning toward NYSE for its IPO
After Nasdaq fumbled Facebook's IPO, Twitter is said to be mulling another route for its market debut.
Here's another way Twitter wants its IPO to be un-Facebook-like.
Multiple news reports citing sources familiar with the company's thinking say that Twitter is leaning toward listing its shares on the New York Stock Exchange, though no decision has been made yet on where to list.
If Twitter were to choose the NYSE, it would invariably invite comparisons with the IPO misfortunes suffered by Facebook. That social network chose Nasdaq, and its market debut in May 2012 was filled with technological glitches. Nasdaq ended up paying $10 million to the SEC to settle charges related to the errors. Indeed, those past fumbles are factoring into Twitter's thinking, sources told The Street.
Twitter announced its intentions to go public via a tweet earlier this month. With an expected valuation of $15 billion, it is the most highly anticipated tech IPO since Facebook.