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Garmin Completes Listing Transfer to the New York Stock Exchange
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Rhea-AI Sentiment
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Rhea-AI Summary
Intercontinental Exchange (NYSE: ICE) announced that Garmin Ltd. (NYSE: GRMN) has successfully completed its transfer to the New York Stock Exchange. Garmin, a leader in various markets for over 30 years, aims to leverage NYSE's advanced market model and extensive network of business leaders. CEO Cliff Pemble expressed confidence in the move, highlighting it as a strategic advantage that will enhance brand value and shareholder returns. Since 2000, approximately 300 companies, worth over $1 trillion, have transitioned to the NYSE.
Positive
Garmin's transfer to the NYSE may enhance brand visibility and investor relations.
Garmin aims to leverage NYSE's unique market model for business growth.
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NEW YORK--(BUSINESS WIRE)--
The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, announced that Garmin Ltd. (NYSE: GRMN) has completed its listing transfer and will begin trading today as an NYSE-listed company.
Garmin, which has been revolutionizing the aviation, automotive, fitness, marine and outdoor markets for more than 30 years, will now be able to leverage all of the advantages of membership in the NYSE community.
These advantages include the Exchange’s unique market model, which combines cutting-edge technology with accountability and human judgment. Membership also brings an unmatched network of CEOs and business leaders, drawn from 2,400 of the world’s largest and most innovative companies, the incomparable brand visibility that stems from an Exchange listing and core investor relations services.
“Garmin is pleased to join the NYSE alongside many of the world’s most well-established and regarded companies,” said Cliff Pemble, President and CEO, Garmin. “Garmin is uniquely positioned as both a highly respected consumer brand and a strong industrial player. We believe this move complements our strong brand and will provide meaningful and long-term value for our shareholders.”
“We are excited to welcome Garmin as it transfers its listing to the NYSE,” said Stacey Cunningham, President, NYSE Group. “We look forward to working with Garmin as it helps millions of active lifestyle customers pursue their passions.”
Nearly 300 companies have switched their listings to the NYSE since 2000, representing more than $1 trillion in current market value.
About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE: ICE), a leading global provider of data, technology and market infrastructure. NYSE Group’s equity exchanges -- the New York Stock Exchange, NYSE American, NYSE Arca, NYSE Chicago and NYSE National -- trade more U.S. equity volume than any other exchange group. The NYSE is the premier global venue for capital raising. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges. To learn more, visit nyse.com
About Intercontinental Exchange
Intercontinental Exchange, Inc.(NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
