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July 20, 2021, 7:08 a.m. EDT

Nasdaq to spin out marketplace for shares of private companies with group of banks: WSJ

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By Ciara Linnane

Nasdaq Inc. /zigman2/quotes/205547889/composite NDAQ -0.21% is teaming up with a group of banks to spin out its marketplace for shares of private companies, in a move that could help drive more deals to Nasdaq Private Market, the Wall Street Journal reported Tuesday. The banking group includes Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS -1.31% and Morgan Stanley /zigman2/quotes/209104354/composite MS -0.55% , as well as SVB Financial Group /zigman2/quotes/200548254/composite SIVB +1.77% , parent of Silicon Valley Bank, the paper reported. Trading in such pre-IPO shares have increased in recent years as startups wait longer to go public, while their employees seek to cash out earlier and investors look to get in on a deal from the ground up. The deal is to be announced later Tuesday. Nasdaq Private Market will be shifted to a separate stand-alone company with investments from the banks. Nasdaq shares were up 2.2% premarket and have gained 33% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% has gained 13%.

/zigman2/quotes/205547889/composite
US : U.S.: Nasdaq
$ 195.43
-0.41 -0.21%
Volume: 409,867
Sept. 16, 2021 4:00p
P/E Ratio
28.96
Dividend Yield
1.11%
Market Cap
$32.75 billion
Rev. per Employee
$1.17M
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 396.68
-5.27 -1.31%
Volume: 2.88M
Sept. 16, 2021 4:00p
P/E Ratio
7.25
Dividend Yield
2.02%
Market Cap
$136.57 billion
Rev. per Employee
$1.31M
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/zigman2/quotes/209104354/composite
US : U.S.: NYSE
$ 102.47
-0.57 -0.55%
Volume: 5.88M
Sept. 16, 2021 4:02p
P/E Ratio
13.64
Dividend Yield
2.73%
Market Cap
$188.00 billion
Rev. per Employee
$766,074
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/zigman2/quotes/200548254/composite
US : U.S.: Nasdaq
$ 608.45
+10.56 +1.77%
Volume: 388,765
Sept. 16, 2021 4:00p
P/E Ratio
17.38
Dividend Yield
N/A
Market Cap
$35.07 billion
Rev. per Employee
$889,295
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/zigman2/quotes/210599714/realtime
US : S&P US
4,473.75
-6.95 -0.16%
Volume: 1.83B
Sept. 16, 2021 5:07p
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