March 6 (Reuters) – Nasdaq OMX Group Inc will form a marketplace for trading in shares of unlisted companies in a joint venture with small trading platform SharesPost Inc, tapping into increasing investor interest in private firms.
The new venture, Nasdaq Private Market, will help the exchange rebuild its reputation as the exchange of choice for unlisted companies, after it was criticized for its role in the botched Facebook Inc IPO last May.
“NYSE was taking a lot of share away from the Nasdaq even in tech listings, so I think it’s kind of an opportunistic move for Nasdaq,” said Josef Schuster, founder of Chicago-based financial services firm IPOX Schuster LLC.
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