Today, NYSE Group, Inc. (NYSE: NYX) welcomed its eighth transfer from Nasdaq in 2006 as Metal Management, Inc., a leader of full service metal recyclers in the U.S., joined the world’s largest equities market.
Metal Management, Inc. (NYSE: MM ) marks the 14th transfer to NYSE Group markets year-to-date, following six transfers from Nasdaq, one transfer from Nasdaq to NYSE ArcaSM and six transfers from Amex.
“We are pleased to welcome Metal Management to our family of listed companies,” said NYSE Group, Inc. President & co-COO Cathy Kinney. “Transferring to the NYSE, Metal Management will now join the world’s greatest companies with the highest listing standards in the world . We look forward to providing the company, and its shareholders, with the unsurpassed visibility and liquidity offered by the NYSE market.”
To celebrate this special occasion, Metal Management Chairman, President and CEO Daniel W. Dienst rang today’s Opening Bell.
"We are very pleased to be joining the New York Stock Exchange," said Daniel W. Dienst, Chairman, President and Chief Executive Officer of Metal Management, Inc. "This significant milestone in our history is a tribute to the hard work and dedication of Metal Management's talented employees, who have transformed this company into a strong, profitable industry leader. Listing Metal Management on the NYSE is yet another important step in our long-term plan to build value for our shareholders."
Recent transfers from Nasdaq to the NYSE in 2006 include Helix Energy Solutions Group, Inc. (NYSE: HLX ). The company, with a market capitalization over $3.5 billion joined the NYSE in July. Earlier this year, CRH public limited company (NYSE: CRH ), headquartered in Ireland , with a market cap of over $18 billion, joined the NYSE in March.
Since 2002, 124 companies transferred from other markets to the NYSE, 85 from Nasdaq and 39 from Amex.
About Metal Management, Inc.
Metal Management is one of the largest full service metal recyclers in the United States , with approximately 50 recycling facilities in 16 states. For more information about Metal Management, Inc., visit the Company’s website at www.mtlm.com.
About NYSE Group, Inc.
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The NYSE is the world’s largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies’ common stock and other securities. On June 30, 2006 , our listed operating companies represent a total global market capitalization of over $ 22.6 trillion. In the second quarter 2006, on an average trading day, almost 1.8 billion shares, valued at over $68.5 billion, were traded on the NYSE.
NYSE Arca operates the first open, all-electronic stock exchange in the United States and has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca is also an exchange for trading equity options. NYSE Arca’s trading platform provides customers with fast electronic execution and open, direct and anonymous market access.
NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.
For more information on NYSE Group, go to: www.nyse.com. Information contained on our website does not constitute a part of the prospectus relating to the proposed offering.
