Nasdaq Discloses Plans to Go Public
Chris Frankie
04/26/01 - 03:21 PM EDT
The Nasdaq Stock Market has decided to become a publicly traded company, putting to rest months of rumors about a possible IPO.
"Offering shares to the public is a natural next step in the evolution of Nasdaq," the stock market's chairman, Frank G. Zarb, said in a statement. "When the time is right, we will do it. The result will be a Nasdaq with more resources, better able to compete, and improve its market for investors and companies around the globe."
The timing of the IPO will depend on a number of factors, including getting the
Securities and Exchange Commission to agree that the Nasdaq meets the agency's requirements for "exchange" status.
In February, the Nasdaq indicated that it
had no plans to float securities, but said it was holding discussions with various European exchanges in a bid to boosts its global presence.
