NEW YORK -- Office Depot is leaving the New York Stock Exchange to list its stock on the Nasdaq.
The office supplies retailer said Monday that its stock will stop trading on the NYSE at the close of business on Sept. 25, and will start trading on the Nasdaq stock market on Sept. 26.
The company's ticker symbol, "ODP," will remain the same.
Office Depot's Chief Financial Officer Stephen Hare said Nasdaq is providing "cost effective access to a portfolio of tools and services to reach investors."
An Office Depot spokeswoman declined to give a reason for the switch. A spokeswoman for the NYSE, which is owned by Intercontinental Exchange Inc., declined to comment.
Office Depot Inc., based in Boca Raton, Florida, has more than 2,000 stores around the world. In November 2013, the company completed a $1.2 billion merger with rival OfficeMax.
Office Depot shares fell 5 cents to $5.86 in morning trading Monday.
No comments:
Post a Comment