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Facebook may move shares to NYSE

Published: 
Thursday, May 24, 2012

NEW YORK—Facebook is in talks with the New York Stock Exchange to move its stock from the Nasdaq Stock Market after a botched initial public offering last Friday, according to a person familiar with the matter. The person spoke on the condition of anonymity because they were not authorised to speak publicly. Facebook’s much-anticipated IPO was delayed by a half-hour last Friday because of glitches on the Nasdaq.

 

After pricing at US$38, Facebook's stock closed up 23 cents last Friday and has been down since. On yesterday, it closed up US$1, at US$32, still down nearly 16 per cent from the IPO price. The news was reported earlier by Reuters. NYSE declined to comment. A Nasdaq spokesman did not immediately return a call for comment. (AP)

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