Nasdaq Bungles WhiteHorse IPO (WSJ)

Exchange erroneously delays opening trade.

By Treasury & Risk | December 06, 2012 at 06:32 AM

Nasdaq yesterday postponed the initial public offering for WhiteHorse Finance by several hours as a result of “human error,” according to the Wall Street Journal. The snafu in the WhiteHorse IPO follows the Nasdaq software problem that marred the Facebook IPO in May.

WhiteHorse, a business development company, was originally scheduled to begin trading at 11 a.m. ET Wednesday. After the company asked for a five-minute extension, a Nasdaq employee entered the wrong command in a computer and stopped the IPO. WhiteHorse shares began trading at 3 p.m. ET.

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