Finance History | 11 Wall Street — Energas Took a Greek Word and Printed ATO
· 1988-10
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Finance History | 11 Wall Street — Energas Took a Greek Word and Printed ATO
kevin
People treat Atmos Energy as a Dallas gas utility that always printed ATO on a mature Big Board book.
The letters arrived with a rename, not with the first public shares.
Pioneer Corporation spun its natural-gas distribution arm out in 1983 as Energas Company, an independent public distributor that International Directory of Company Histories dates to that spin-off.
In October 1988 Energas changed its name to Atmos Energy Corporation, a coinage from the Greek word for the gases of the atmosphere, and the stock began trading on the New York Stock Exchange under ATO.
The same directory records that Energas was then reorganized as an unincorporated division of Atmos.
Company-history summaries used by the firm still put the NYSE print in October 1988 and keep 1906 as the predecessor date in the Texas Panhandle.
The mechanism is a spun-off distribution book taking a new name onto the listed tape while the operating pipes stay the same.
A 1983 public Energas and a 1988 Atmos are one utility under two mastheads.
The pipes did not move. The letters did.
The pin is the Broad Street facade of the Exchange, where ATO prints. 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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