Nasdaq Files For IPO

The Nasdaq Stock Market resurrected its plans to go public on Tuesday, filing a registration statement with the SEC to raise $100 million for investors who purchased stock in private placements in 2000 and 2001.

The stock market’s plans to go public were interrupted by the bursting of the tech bubble and the nearly three-year bear market that followed. The Nasdaq will not receive any of the proceeds of the offering.

Nasdaq shares have traded on the Bulletin Board under the symbol “NDAQ” since mid-2002, when private shareholders sought to create a market for the stock. Shares of NDAQ rose 22% to $8.34 on Tuesday.

Nasdaq plans to list on the Nasdaq Stock Market if the registration statement is approved. The move is part of a plan to become independent of the National Association of Securities Dealers (NASD), which plans to sell shares in the offering.

The registration statement shows that the tech bear market was as tough on the Nasdaq as it was on its listed companies. The Nasdaq earned 35-45 cents a share in 2001-2002, lost money in 2003, and still hadn’t quite made it back to profitability in the first nine months of this year.

The Nasdaq’s move follows a very successful IPO last year by the Chicago Mercantile Exchange .

Stocks gained Tuesday despite the Federal Reserve’s fifth interest rate increase this year, as investors were soothed by the Fed’s statement that inflation remains under control.

The Nasdaq rose 11 to 2159, the S&P 500 gained 4 to 1203, and the Dow rose 38 to 10,676. Volume rose to 1.54 billion shares on the NYSE, and 2.26 billion on the Nasdaq. Advancers led 20-12 on the NYSE, and 18-12 on the Nasdaq. Upside volume was 65% on the NYSE, and 58% on the Nasdaq. New highs-new lows were 272-13 on the NYSE, and 147-17 on the Nasdaq.

After the close, ADC Telecom beat estimates, and TriQuint and Pegasus reaffirmed guidance.

During the day, Veritas gained 9% on news that the company could be acquired by Symantec , which fell 16%.

Research in Motion fell 6% on a patent ruling.

Adtran dropped 16% on a warning.

Manchester Tech soared 66% on its results.

Silicon Labs and Verint gained 8% each on upgrades.

MicroStrategy fell 15% on a downgrade and news of a new CFO.

Wave Systems soared 80% on a deal with Dell .