Here's the check. Now, don't worry so much about the rest. Nasdaq is planning to launch a trading platform-The Portal Market-this summer for shares issued in 144A private placements. "Right now, you can sell these through a specialized dealer, but you don't know the last price," Bob Greifeld, Nasdaq president and chief executive, told energy and other executives at a Houston Petroleum Club program last week, co-sponsored by Oil and Gas Investor. The platform will be private, since only QIBs ("quibs" or qualified institutional buyers) are allowed by buy and hold shares issued in 144A placements, he added. However, the platform will be transparent, such as showing last price. Mike Rosinski, chief financial officer of Nasdaq-listed Rosetta Resources Inc., says a transparent trading platform for 144A shares could help soften the pressure to eventually publicly list the stock. For more on this, see the July issue of Oil and Gas Investor. For a subscription, call 713-260-6441.
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