Social networking site\u00a0Twitter has selected the New York Stock Exchange for its IPO listing, according to an amended filing with the Securities and Exchange Commission (SEC).<\/p>\n
The stock will trade under the ticker symbol “TWTR”.<\/p>\n
Twitter will therefore not join the likes of Facebook, Apple,\u00a0Groupon, Zynga and other tech stocks on the Nasdaq exchange, but will instead list with business social media site LinkedIn.<\/p>\n
The Nasdaq had come under fire for bungling Facebook’s initial public offering in May \u00a02012.<\/p>\n
\u201cThis is a decisive win for the NYSE We are grateful for Twitter\u2019s confidence in our platform and look forward to partnering with them,\u201d the NYSE said in a statement.<\/p>\n
The Nasdaq said: \u201cAll of us at Nasdaq wish Twitter well as they pursue their initial public offering.\u201d<\/p>\n
Analysts\u00a0estimate Twitter’s value at between\u00a0$12 billion\u00a0and $15 billion, and the company could list as a soon as next month.<\/p>\n
In its amended filing,\u00a0Twitter also noted that it had 230 million monthly active users, up from the 218 million it first disclosed in an S-1 filing on October 3.<\/p>\n
The company said that it more than doubled its third quarter revenue to $168.6 million, but it added that it widened its net loss to $64.6 million in the September quarter, from $21.6 million a year earlier.<\/p>\n
Facebook IPO fail means no bonus for Nasdaq chief<\/strong><\/a><\/p>\n Twitter finalising IPO<\/strong><\/a><\/p>\n SA social media stats revealed<\/strong><\/a><\/p>\n