NYSE beat battle with NASDAQ for Alibaba

IPO of Chinese Internet giant Alibaba will be held at the New York Stock Exchange – NASDAQ lost ground in the competition. Initially it was considered NYSE company management as the primary option, but NASDAQ did not give up without a fight, and the final decision was taken only at the final stage of negotiations.

According to RBC TV to entice Alibaba to his managers NYSE flew to Hong Kong, as well as manual trading platform accelerated retired CEO Duncan Niederauer. This should demonstrate that the absorption NYSE Intercontinental Exchange has been completed, that the New York Stock Exchange is not in transition.

IPO Alibaba scheduled for the first half of August, although the timing is not yet iron. Placing the Chinese e-commerce giant could attract $ 20 billion, becoming one of the largest IPO in history. According to the documents, which the company has filed for registration of regulators, it will trade under the ticker Baba.

As pointed out by RBC TV, NYSE and NASDAQ are actively competing with each other for placement of large companies – they increase revenues exchanges, improve the image and eventually attract new IPO. Accommodation Alibaba has become the second victory of the New York Stock Exchange – before she has placed Twitter. And this despite the fact that until recently the technology companies are always posted on the NASDAQ. But the reputation of this area suffered after a series of technical glitches, one of which spoiled the IPO Facebook. Did this put Twitter and Alibaba on NASDAQ.