AEP To Transfer Listing Of Corporate Units To Nasdaq

Rhea-AI Summary

American Electric Power Company (NYSE: AEP) will transfer its 6.125% Corporate Units listing from the NYSE to Nasdaq, effective October 1, 2020. The last trading day on NYSE is September 30. Following the transfer, the Corporate Units will trade under new ticker symbols AEPPL and AEPPZ. AEP operates the largest electricity transmission system in the U.S., delivering power to approximately 5.5 million customers across 11 states. The company emphasizes innovative energy solutions and boasts over 30,000 megawatts of generating capacity, including renewable energy sources.

Positive

• Transfer to Nasdaq may enhance trading visibility and liquidity for Corporate Units.
• New ticker symbols (AEPPL and AEPPZ) could attract interest from different investor bases.

Negative

• None.

COLUMBUS, Ohio, Sept. 16, 2020 /PRNewswire/ -- American Electric Power Company (NYSE: AEP) today announced it will transfer the securities exchange listing of its two series of 6.125% Corporate Units from the New York Stock Exchange (NYSE) to The Nasdaq Stock Market effective as of the open of trading on Thursday, Oct. 1. The last day of trading on NYSE will be Wednesday, Sept. 30. AEP's Corporate Units have been approved for listing on Nasdaq. Upon transfer, Corporate Units AEP PR B and AEP PR C will trade under the new ticker symbols AEPPL and AEPPZ, respectively.

American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP's approximately 17,400 employees operate and maintain the nation's largest electricity transmission system and more than 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with more than 30,000 megawatts of diverse generating capacity, including approximately 5,300 megawatts of renewable energy. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide. For more information, visit aep.com.

 

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SOURCE American Electric Power

FAQ

Why is AEP transferring its Corporate Units to Nasdaq?

AEP is transferring to Nasdaq to enhance trading visibility and liquidity for its 6.125% Corporate Units.

What are the new ticker symbols for AEP's Corporate Units?

The new ticker symbols are AEPPL for Corporate Units AEP PR B and AEPPZ for AEP PR C.

When is the last trading day for AEP's Corporate Units on NYSE?

The last trading day on the NYSE for AEP's Corporate Units will be September 30, 2020.

What is the capacity of AEP's electricity generation?

AEP has over 30,000 megawatts of diverse generating capacity, including approximately 5,300 megawatts from renewable energy.

How many customers does AEP serve?

AEP delivers power to nearly 5.5 million regulated customers across 11 states.