Public Service
Nasdaq looks to test the market for markets--and fund its global expansion.
Nasdaq specializes in helping launch other companies into publicownership. Now the exchange wants to join the club. Last April, itannounced plans to stage an IPO sometime in the next year or two,which leaves entrepreneurs with two questions: What does the movemean for IPO-minded business owners? And what will the exchange dowith the money?
Industry analysts say Nasdaq needs the capital to fund itsambitious overseas expansion, a process that is already underway inEurope and Asia. As Nasdaq gets closer to creating a globalexchange, listed companies will enjoy a bigger pool of potentialinvestors without having to list separately with a number ofdifferent foreign exchanges. Chris Karkenny, CEO of NetCatalyst, aSanta Monica, California, investment firm, describes the potentialresult as a breath of fresh air for entrepreneurs. "Thebroader the ability to trade in your stock," he says,"the higher your liquidity at the end of the day."
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