Twitter Inc. has found a home on Wall Street: the New York Stock Exchange.
The microblogging juggernaut’s choice to list its soon-to-be-public stock on the Big Board is a blow to the Nasdaq Stock Market, which fumbled the debut of Facebook, last year’s hot tech IPO. Twitter disclosed its pick in a securities filing late Tuesday.
Twitter is seeking to raise $1 billion in the offering, on track to take place next month.
Although investors may care little where the company lists its stock, Twitter’s choice nonetheless carries high stakes for the country’s two largest exchanges.
“This is a decisive win for the NYSE,” NYSE Euronext, the exchange operator, said in a statement. “We are grateful for Twitter’s confidence in our platform and look forward to partnering with them.”
Twitter declined to comment.
— From wire reports