By Sabela Ojea
Telecommunications company Globalstar intends to transfer its listing to Nasdaq as it seeks to delist its shares from the New York Stock Exchange American.
The company on Tuesday said that the transfer of its listing to Nasdaq, subject to the completion of its reverse stock split, could make its common stock more attractive to a broader range of investors.
The last day of trading on the New York Stock Exchange American is expected to take place on or around Feb. 10, Globalstar said. Its shares will begin trading Nasdaq on or around Feb. 11 under the same symbol, GSAT.
In November, Globalstar had said its board of directors had approved a reverse stock split to improve liquidity and bring more investors to the company.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
January 21, 2025 18:45 ET (23:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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