General Motors to Transfer Stock Listing From NYSE to Nasdaq, Keeping Ticker GM From November 17
General Motors announced on October 27 that it will transfer the listing of its common stock from the New York Stock Exchange to the Nasdaq Global Select Market, expecting to begin trading as a Nasdaq-listed company on November 17 under its existing ticker symbol "GM." Its shares will continue to trade on the NYSE through the close of business on November 16, and existing shareholders need take no action on the transfer. (GSM, based on a General Motors statement and Reuters reporting)
"General Motors' customer-focused, technology-driven strategy is creating value for our stockholders, making Nasdaq a natural home for our listing as we grow," said Paul Jacobson, GM's executive vice president and chief financial officer, who also thanked the NYSE for its long partnership. GM noted that a Nasdaq listing makes it eligible for possible inclusion in the Nasdaq-100 Index, while cautioning that eligibility does not guarantee membership, which comes only through the standard review process.
According to Reuters, GM has a market value of around $64.4 billion. The automaker first listed on the NYSE in 1911, the first automobile company to trade on the Big Board, was delisted after its 2009 bankruptcy, and returned to the NYSE with its 2010 initial public offering following a government rescue. Walmart and Hilton are among the other well-known companies that have recently moved their listings from the NYSE to Nasdaq.
Source: GSM · USA (original Chinese edition)
Photo: 图：通用汽车公司标志。公共领域，经 Wikimedia Commons（编辑性合理使用）。Photo: General Motors logo. Public domain, via Wikimedia Commons (editorial use).
