Finance History | 11 Wall Street — IFF Left the Over-the-Counter Book
· 1964-3
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Finance History | 11 Wall Street — IFF Left the Over-the-Counter Book
kevin
People treat International Flavors and Fragrances as a New York specialty-chemical house that always printed IFF after a finished Big Board book.
The March 1964 issuer was International Flavors and Fragrances Inc., a New York corporation assembled in 1958 from earlier flavor and fragrance shops.
Company histories record that the first public shares were offered over the counter in October 1961, after 1960 sales of 34.2 million dollars in 1960 currency, with flavors already 35 percent of that total.
The New York Times dated 2 March 1964 carried the headline International Flavors Joins Big Board Today.
Market-data services that keep a continuous IFF tape commonly start that series on the same March 1964 session.
Simply Wall Street later lists the New York Stock Exchange common stock from January 1968, a later data-start that should not be confused with the 1964 admission.
The letters IFF still open on this exchange.
The mechanism is an over-the-counter flavor-and-fragrance book moving onto the listed tape once European food and soap customers had already made the issuer large enough for the Big Board.
The pin is the Broad Street facade of the Exchange on the morning those letters first printed here.
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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