Twitter to list on NYSE (Update)

Oct 15, 2013
The logo of social networking website 'Twitter' is displayed on a computer screen in London on September 11, 2013

Twitter shares will trade on the New York Stock Exchange, documents showed Tuesday, shunning the tech-heavy Nasdaq which saw major problems in Facebook's market debut in 2012.

An update to Twitter's filing with the Securities and Exchange Commission said: "We intend to list the common stock on the New York Stock Exchange under the symbol 'TWTR.'"

The update also said Twitter's monthly active users had grown to 232 million, up from 218 million as of June 30.

It said the company lost $133 million in the first nine months of 2012 on revenues of $422 million, updating its earlier figures.

Twitter also revealed a new contract with chief executive Dick Costolo worth some $11.5 million, mostly in stock. And its senior vice president for engineering, Christopher Fry, will get $10.4 million, mainly in stock awards.

Twitter first revealed its initial public offering (IPO) in a confidential filing last month, and in early October revealed it would seek to raise $1 billion for the massively popular messaging platform.

Twitter's decision to list on the NYSE came after the Nasdaq's foul-up marred the $16 billion Facebook share issue in May 2012, the most hotly awaited initial public offering on the US markets in years.

The Nasdaq exchange agreed this year to pay a $10 million penalty for trading glitches.

Nasdaq is also facing lawsuits from investors who claim the problems led to losses when they were unable to execute trades.

Explore further: Jury says Silicon Valley firm did not discriminate (Update)

add to favorites email to friend print save as pdf

Related Stories

3Qs: How 'tweet' it is?

Sep 19, 2013

Last week, the social media giant Twitter tweeted that it had filed for a planned initial public offering with U.S. regulators. We asked Linlin Ma, who joined the Northeastern faculty this fall as an assistant ...

Facebook to be part of Nasdaq 100 index

Dec 05, 2012

Facebook will become part of the Nasdaq 100 index of the largest non-financial companies listed on the electronic exchange, the market operator said Wednesday.

Recommended for you

Intel in talks with Altera on tie-up

Mar 27, 2015

US tech giant Intel is in talks with rival Altera on a tie-up to broaden the chipmaker's product line amid growth in Internet-connected devices, the Wall Street Journal reported Friday.

Apple chief Cook to give his wealth away: Fortune

Mar 27, 2015

Apple chief Tim Cook is joining Mark Zuckerberg, Bill Gates and other technology titans who have vowed to donate their wealth to charities, according to a report in Fortune magazine.

BlackBerry tops 4Q profit forecasts

Mar 27, 2015

BlackBerry posted a surprise profit in the fourth quarter, but saw a sharp drop-off in revenue as the once-iconic smartphone company said it reached the halfway mark of its turnaround effort.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.