Verizon Communications Inc. said its shares will begin trading on the Nasdaq market on Friday, while retaining their New York Stock Exchange listing.
The NYSE Euronext and Nasdaq OMX Group Inc. have been trying to poach listings from each other, but it is unusual for a company to trade on both exchanges.
Verizon will be the only one of the major U.S. phone companies to have a Nasdaq listing, since AT&T Inc. and Sprint Nextel Corp. only trade on the NYSE, although Leap Wireless International Inc., a smaller wireless carrier, does trade on Nasdaq.
"Verizon has a broad and diverse shareholder base, and we believe that the additional support provided by dual listing will benefit our current and potential investors," Verizon Chief Financial Officer John Killian said in a statement.
Verizon said it has about 2.5 million shareholders and approximately 2.8 billion shares of common stock outstanding.
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