Finance History | 11 Wall Street — AGC Printed a Fifty-Year Utility Book Before AEP
· 1949-9
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Finance History | 11 Wall Street — AGC Printed a Fifty-Year Utility Book Before AEP
kevin
People treat American Electric Power as a Columbus Nasdaq name that always printed AEP.
The first Big Board book used different letters and a New York holding-company roof.
American Gas and Electric Company was incorporated in New York on 20 December 1906.
The company later told its own shareholders that the common stock first listed on the New York Stock Exchange on 1 September 1949.
The ticker on that tape was AGC.
Headquarters were still in New York.
In 1958 shareholders approved a rename to American Electric Power Company, Inc., and the letters on the tape became AEP.
On 10 September 1999 chairman E. Linn Draper rang the Opening Bell to mark fifty years on the Exchange.
The 1949 listing is the fact the company used for that anniversary, not a later data vendor's 1970 start date.
The operating map by then ran from the East Coast into the Midwest through a chain of operating utilities.
The holding company moved its headquarters to Columbus, Ohio, in 1980.
On 1 October 2020 the common stock left the New York list and opened on the Nasdaq Global Select Market, still under AEP.
The 1949 print remains the first time the parent book sat on a specialist post at 11 Wall Street.
The mechanism was a listed holding company whose ticker changed when the name changed, then changed venues seventy-one years later.
Photo: New York Stock Exchange Broad Street facade from the listing-collection cover.
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