First, last weeka mother(Arm)’s US$5 billion IPO, and another US$660 million share sale in online grocery delivery platform Instacart this week.Nasdaq(Nasdaq) is set to overtake the New York Stock Exchange (NYSE) this year in the most turbulent battle for initial public offerings (IPOs) in five years.
Including arrangements for Instacart and other deals, Nasdaq will help companies raise $9.3 billion this year, surpassing the New York Stock Exchange’s $8 billion, according to estimates by Dealogic and the Financial Times.
The New York Stock Exchange is located in a historic building in New York’s Financial District. In the last 20 years, it has failed to win in only five years. However, thanks to the popularity of technology IPOs, Nasdaq, which is headquartered in Times Square, has been victorious over the past four years. New York Stock Exchange.
The share of technology stocks in newly listed companies was higher this month compared to the previous months of the year. Johnson & Johnson consumer goods brand Kenview has chosen the New York Stock Exchange for its US$4.3 billion spin-off and listing.
Both the stock exchanges compete fiercely for newly listed companies, which not only brings in considerable monthly handling fees but also enhances the reputation of the stock exchanges. In February this year, Nasdaq CEO Adena Friedman flew to Japan to personally lobby Masayoshi Son, the founder of ARM’s parent company SoftBank.
Although the technology boom has faded, the Nasdaq and the New York Stock Exchange have lagged behind China’s stock exchanges in global IPO rankings in terms of the total amount raised this year.securityIn terms of capital, both New York Stock Exchanges remain the leaders with US$133 billion, which also highlights the importance of maintaining capital flows after IPOs.
Arm’s listing is the biggest IPO in the past two years, with a 25% rise in first-day trading.
Nasdaq listing fees and costs are relatively low, and smaller companies often choose to list there, including biotechnology companies that often raise funds through the stock market. Mark Mandel, head of Baker McKenzie’s North American capital markets group, said: “It’s like choosing between Bentley and Tesla. You can’t go wrong with either one, but companies, like people, gravitate towards certain brands.” “
In addition to Instacart’s listing on Nasdaq, digital marketing group Klaviyo is also expected to raise about $500 million via the New York Stock Exchange this week, while German shoe company Birkenstock is set to list on the New York Stock Exchange next week. A few weeks. Exchange listing, offering up to $1 billion in shares.
Corporate executives who choose the New York Stock Exchange have the opportunity to ring the opening bell on the trading floor. Nasdaq provided an electronic billboard that would complement Broadway and consumer brand advertising in Times Square.