Finance History | 11 Wall Street — RESM Stopped and a Sleep-Device Book Printed RMD
· 1999-9
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Finance History | 11 Wall Street — RESM Stopped and a Sleep-Device Book Printed RMD
kevin
People treat ResMed as a San Diego device house that always printed RMD after a finished New York book.
The September 1999 issuer was already public. ResMed Inc., a Delaware holding company formed in March 1994, had completed its initial public offering on 1 June 1995 and begun Nasdaq trading the next day under the letters RESM.
The company's later Form 10-K records the transfer: on 30 September 1999 the primary listing moved to the New York Stock Exchange under the letters RMD.
A 1999 annual report, written just before the move, still carried the Nasdaq symbol and said the New York tape was expected on or about that September date.
Two months later the same common stock gained a secondary Australian book of CHESS Depositary Instruments, also called RMD.
The present tape is RMD on the New York Stock Exchange.
The mechanism is an exchange transfer after a first Nasdaq sale. The New York letters replaced a four-letter over-the-counter symbol once the CPAP maker wanted the same tape as the larger device names.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that now prints RMD.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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