Sept 25 (Reuters) - Lumen Technologies said on Friday it plans to transfer the listing of its common stock and two Qwest Corp notes to Nasdaq from the New York Stock Exchange, saying the exchange better fits its technology-focused business as it expands networking services for AI customers.
The move will not affect Lumen's operations, financial condition or reporting obligations, and shareholders will not need to take any action, the company said.
Here are more details:
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Lumen expects its common shares and Qwest Corp's notes to be delisted from the NYSE after the market close on October 5.
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The securities are expected to begin trading on Nasdaq at the market open on October 6, subject to customary closing conditions.
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Lumen's common stock is expected to retain the ticker symbol "LUMN". The Qwest notes are expected to continue trading as "CTGG" and "CTHH".
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Lumen and Qwest have applied for Nasdaq listings and plan to file a Form 25 with the U.S. Securities and Exchange Commission to delist the securities from the NYSE.
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"Nasdaq is the right home for this next chapter, reflecting the technology-focused business we are building," Kate Johnson, chief executive, said.
Reporting by Anzar Mehraj in Bengaluru; Editing by Tasim Zahid
Source: Reuters