NEW YORK, N.Y. – The New York Stock Exchange is edging out its tech-heavy rival for the biggest stock debut of the year.
Twitter says it will list its shares on the NYSE. The micro-blogging service does not say in its latest regulatory filing when it expects to start trading, but the debut is expected before Thanksgiving.
It chose the NYSE over the Nasdaq stock exchange, which fumbled Facebook Inc.’s debut last year, damaging its reputation. Both exchanges heavily courted Twitter, which is expected to be the marquee IPO of the year.
Nasdaq has traditionally been the choice for technology company IPOs, but the NYSE has successfully wooed a growing list of companies recently, including 10 of the 20 largest technology IPOs so far this year, according to research firm Dealogic.