Finance History|Nasdaq MarketSite — ADI Left the Big Board for a Technology Tape
· 2012-4
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Finance History|Nasdaq MarketSite — ADI Left the Big Board for a Technology Tape
kevin
People treat Analog Devices as a Wilmington chip house that always printed ADI on a Nasdaq book.
The letters spent decades on the New York Stock Exchange first.
On 13 March 2012 the board approved a voluntary withdrawal from the Big Board and a listing on the Nasdaq Global Select Market.
The company's Form 8-K said common stock would cease New York trading at the close on 30 March 2012 and open on Nasdaq on or about 2 April 2012.
The ticker stayed ADI.
David Zinsner, then chief financial officer, told the release that Nasdaq was the market already identified with technology issuers.
Nasdaq's Bruce Aust welcomed the analog and mixed-signal franchise onto that tape.
The move changed the venue, not the share count. No primary cash was raised.
Founded in 1965, Analog Devices had been a listed semiconductor name long before Times Square built a studio for openings.
Nasdaq MarketSite opened on 1 January 2000. The 2012 transfer is the reason this pin sits on the studio rather than on Wall Street.
The interior floor is not a visitor gallery. What is visible from Broadway and Forty-Third is the public screen.
The mechanism is a voluntary exchange switch that put an analog-chip book onto the tape the company thought its customers already watched.
Photo: Nasdaq MarketSite Times Square facade from the listing-collection cover.
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