It looks like Snapchat will IPO on the NYSE

Lynsey Barber
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Snapchat's IPO is heading for the NYSE
Snap Inc is ready to float (Source: Reuters)

Snapchat parent company Snap has chosen the New York Stock Exchange for its hotly-anticipated IPO, CNBC is reporting.

The NYSE triumphed in the battle with Nasdaq for the hottest tech float in quite some time.

Snap is expected to file publicly for the IPO as soon as this week, Recode has reported, going public as early as March.

Morgan Stanley and Goldman Sachs are leading the listing, while JP Morgan, Deutsche Bank, Allen & Co, Barclays and Credit Suisse are joint bookrunners.

The float is expected to value the firm at around $25bn.

Nasdaq hired a helicopter to film New York with Snap's Spectacles while NYSE draped a banner across its building promoting its Snapchat channel.

Nasdaq last year regained its tech IPO crown after losing it to the NYSE in the previous three years, according to data from Thomson Reuters.