"We can provide a unique opportunity for public companies to trade on NASDAQ and to experience the benefits of an electronic model with multiple, competitive participants," said Bob Greifeld, president and chief executive officer of The NASDAQ Stock Market. "The companies who intend to dual list with NASDAQ are leaders across a diverse range of industry types. We believe that through dual listing, these companies will have greater access to the benefits of highly efficient trading in a highly transparent environment."
"This is an innovative concept that ratchets up the debate regarding the quality of the trading environment for securities - and what is best for shareholders," said Jeffrey Sonnenfeld, associate dean, Yale School of Management. Sonnenfeld continued, "This is certainly an option that CEOs and their Boards will need to examine as they evaluate trading in their stock."
Companies wishing to dual list on NASDAQ must meet National Market listing standards. Firms listing on NASDAQ as well as the NYSE will trade under the same three-letter symbol on both markets.
The six companies making the announcement today, with a total market capitalization of approximately $156 billion, are the first stocks to participate in NASDAQ's new dual listing program.
NASDAQ is the world's largest electronic stock market. With approximately 3,300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQ.com or the NASDAQ Newsroom SM at www.NASDAQnews.com.
Company Public Relations Contacts:
Apache Corporation
Tony Lentini
713-296-6227
tony.lentini@apachecorp.com
Giovanni Rodriguez
Eastwick Communications
For Cadence Design Systems
650-480-4021
650-279-8415 (mobile)
Giovanni@eastwick.com
Charles Schwab & Co. Inc
Jennifer Hallahan
212-804-3668
jennifer.hallahan@schwab.com
Countrywide Financial
Rick Simon
Countrywide Financial
Rick Simon
818-871-5399
rick_simon@countrywide.com
Hewlett-Packard
Brian Humphries
650-857-3342
brian.j.humphries@hp.com
Walgreens
Michael Polzin
847-914-2925
michael.polzin@walgreens.com
