Six Cos. to List Shares on Nasdaq, NYSE
Mon Jan 12, 8:56 AM ET Add Business - AP to My Yahoo!
NEW YORK - Hewlett-Packard Co., Charles Schwab Corp., Walgreen Co. and three other companies whose shares trade on the New York Stock Exchange (news - web sites) will also list their shares on the Nasdaq Stock Market under a new dual listing program, Nasdaq announced Monday.
The other three companies are Apache Corp., Cadence Design Systems and Countrywide Financial, the Nasdaq said.
NYSE companies listing on Nasdaq will trade under the same three-letter symbol on both markets, the Nasdaq said.
Bob Greifeld, president and chief executive of Nasdaq, said dual listing will give participating companies "greater access to the benefits of highly efficient trading in a highly transparent environment."
Walgreen chairman Dave Bernauer said the drugstore chain operator feels dual listing will bring more competition to the markets and give investors more choice in trading venues.
"We believe this move is in the best interests of both our individual and institutional shareholders," he said.
Walgreen, based in Deerfield, Ill., said it had signed a one-year agreement with Nasdaq to list on both exchanges, and that the dual listing will become effective within several weeks.
The company, which has traded on the NYSE since Feb. 15, 1934, said it will continue using the NYSE closing price as its stock price of record. |
