Bloomberg News

Nasdaq ‘Experiencing a Delay’ in Opening Facebook Shares

May 18, 2012

Nasdaq OMX Group Inc. (NDAQ:US) is “experiencing a delay” in opening shares of Facebook Inc. (FB:US), according to an e-mailed statement.

Nasdaq is trying to open trading of Facebook after its underwriters sold 421.2 million shares at $38 each to raise $16 billion yesterday. That valued the company at $104.2 billion, a record for an initial public offering. The delay in opening the stock follows exchange operator Bats Global Market Inc.’s failure to get its own shares trading in March.

Nasdaq had said it would start quoting the stock at 10:45 a.m. New York time and begin trading of Facebook at about 11 a.m. It then delayed the open by five minutes before sending the notice that there was a problem.

Nasdaq OMX shares briefly erased gains. They rose 0.7 percent to $23.16 at 11:18 a.m. New York time.

To contact the reporter on this story: Nick Baker in New York at nbaker7@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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Companies Mentioned

  • NDAQ
    (NASDAQ OMX Group Inc/The)
    • $48.73 USD
    • 0.03
    • 0.06%
  • FB
    (Facebook Inc)
    • $80.05 USD
    • -0.72
    • -0.91%
Market data is delayed at least 15 minutes.
 
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