Report: Snap to trade on NYSE

Snap Inc., the parent company of messaging app Snapchat, will reportedly trade on the New York Stock Exchange when it plans to go public.

According to CNBC, Snap has chosen NYSE for its initial public offering, expected to be filed some time this week.

New details of the Snap IPO were revealed by Recode late last week. The report says Goldman Sachs and Morgan Stanley will lead the offering, which will carry a valuation around $25 billion. The company would likely start trading in March.

The arrival of Snap's IPO could usher in a fresh wave of tech offerings following a slower 2016. Companies including Airbnb and Uber are among potential candidates to launch their IPOs this year.

Last year marked a quiet period for initial public offerings in tech, after several companies including Fitbit, Box and Shopify went public in 2015.

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