GENERAL MOTORS PLANS TO MOVE STOCK LISTING TO NASDAQ

General Motors said on 27 October that it plans to transfer its common stock listing from the New York Stock Exchange to the Nasdaq Global Select Market. The Detroit-based carmaker expects its shares to trade on the New York Stock Exchange through the close of 16 November. It expects trading on Nasdaq to begin on 17 November. General Motors said its ticker symbol will remain GM after the transfer.

General Motors first listed on the New York Stock Exchange in 1911 and relisted there in 2010 following a government-backed bankruptcy. The company said the shares covered by the transfer have a par value of $0.01 each. Paul Jacobson, General Motors’ chief financial officer, said the company’s strategy focused on customers and technology. He called Nasdaq “a natural home for our listing as we grow” and thanked the New York Stock Exchange for its long-standing partnership.

General Motors said the move would make its shares eligible for potential inclusion in the Nasdaq-100 Index. The company said existing shareholders need take no action in connection with the listing change. General Motors said its Buick, Cadillac, Chevrolet and GMC brands offer petrol-powered and electric vehicles. The company says it is moving towards an all-electric future.