Finance History | 11 Wall Street — Electric Boat Prints a Holding-Company Book Called GD
· 1952-2
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Finance History | 11 Wall Street — Electric Boat Prints a Holding-Company Book Called GD
kevin
People treat General Dynamics as a Reston defense shop that always printed GD after a finished submarine book.
The February 1952 issuer was a new parent.
John Jay Hopkins reorganized the Electric Boat Company as General Dynamics Corporation on 21 February 1952.
Electric Boat and Canadair sat under that holding company.
The listed parent printed the letters GD on the New York Stock Exchange.
Convair joined the same group the following year.
The submarine yard in Groton kept the Electric Boat name while the public book became a multi-industry defense parent.
The mechanism is a rename-and-hold of an already listed boat builder, not a cash IPO of a new firm.
The pin is the Broad Street facade of the Exchange.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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