Finance History | 11 Wall Street — The Chocolate Corporation Prints a Public Book
· 1927-10
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Finance History | 11 Wall Street — The Chocolate Corporation Prints a Public Book
kevin
People treat Hershey as a Pennsylvania chocolate shop that always printed HSY after a finished factory book.
The 1927 issuer was Hershey Chocolate Corporation, incorporated in Delaware on 24 October 1927 as successor to the 1894 firm.
The company's own timeline records that Hershey began trading on the New York Stock Exchange in 1927.
Nine years earlier the chocolate-company assets had been placed in the trust that funds the Milton Hershey School.
The listing therefore put a public tape on a company whose control already sat with that school trust.
The dual-class recapitalization of 1984 is a later book.
The mechanism is a reorganization listing, not a cash IPO of a new issuer.
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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