Nasdaq May Surpass NYSE In IPOs | Shanghai Daily

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September 19, 2009

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Nasdaq May Surpass NYSE In IPOs

THE Nasdaq Stock Market could surpass its archrival, the New York Stock Exchange, this year or next in the number and value of initial public offerings, Nasdaq OMX Group Chief Executive Robert Greifeld said on Thursday.

"It certainly is realistic" to expect Nasdaq could surpass the Big Board, operated by NYSE Euronext, in 2009 or 2010, Greifeld said.

"It's a long, slow, steady build," he said. "We are building momentum and increasing the win rate in switches and IPOs, and we feel that progress has been very steady and will continue."

Nasdaq and NYSE have each drawn eight United States IPOs so far this year. The proceeds from the NYSE-listed offerings total US$2.1 billion, 60 percent more than those at Nasdaq, according to Thomson Reuters data.

The data exclude real estate investment trusts (REITs), which overwhelmingly list on NYSE, IPOs of less than US$10 million, and special purpose acquisition companies, or SPACs, where cash is raised for a buyout.



 

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