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Google, the massive Internet search company has announced that its primary listing is to be on NASDAQ. A fierce competition had taken place between the technology stock influenced exchange and the New York Stock Exchange (NYSE). No reasoning for the choice was given.

In the most eagerly awaiterd IPO in years, Google are to sell shares using an auction system. However the process still requires regulatory approval from the SEC, before it can go ahead. The announcement about the exchange came in a filing.

The Google IPO is notable for many things. It is easily the most high profile IPO this year. A value of $40bn might be placed on the company post-flotation. Wall Street is viewing the auction system closely, as Google try to close them out.

Testing of the auction system is due to start in the next couple of days.

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