Initial Public Offering, Stock Market | featured news

A legal challenge to an ambitious plan to let the public buy shares in one of New York City's most famous landmarks — the Empire State Building — was cast aside on Tuesday in a ruling by a Manhattan judge.

Soccer powerhouse Manchester United is expected to launch its IPO in New York as early as next week, for pricing in early August, after earlier attempts in Hong Kong, Singapore and the UK.

Facebook on Thursday priced its initial public offering at $38 per share. The social networking company, which is expected to go public tomorrow under the ticker symbol "FB," stands to reap $18.4 billion in the IPO.

The average initial public offering in Hong Kong since the start of 2009 is down 13%, and more than two-thirds of the offerings have underperformed the Hang Seng Index since their listings.

Facebook will list its shares with Nasdaq, according to media reports. That would be a big win for the Nasdaq, which competes fiercely with NYSE Euronext Inc., especially for an initial public offering as large as Facebook's, pegged at $5 billion. The New York Times and CNBC cited anonymous sources on the potential listing.

In a breakdown that resembled a mini version of the 2010 "flash crash," a series of blunders hit the market debut of BATS Global Markets Exchange Inc on Friday, causing the company to take the extremely rare step of withdrawing its initial public offering of shares.

Two companies with quirky names, Ubiquiti Networks and Zeltiq Aesthetics, made their public debuts earlier this month with listings on the Nasdaq Stock Market. Each company's stock went up modestly on the first day of trading.

Groupon is going to wait at least a couple of weeks before launching the final phase of its initial public offering because regulators still have questions for the daily deals website and the stock market is too volatile, a person familiar with the situation said on Tuesday.

China-based video site Tudou has stumbled out of the gate on the company's first day of trading on the U.S. stock market. Tudou went public today with an offering of 6 million American depositary shares at $29, raising $174 million.

The company behind the Angry Birds mobile phone game sensation wants to list on the stock market.