Finance History | Nasdaq MarketSite — KFT Stopped and MDLZ Opened
· 2012-10
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Finance History | Nasdaq MarketSite — KFT Stopped and MDLZ Opened
kevin
People treat Mondelēz as a Chicago snack house that always printed MDLZ after a finished Nasdaq book.
The October 2012 survivor was Kraft Foods Inc., already listed on this tape under KFT after a June 2012 move off the New York Stock Exchange.
A company release dated 1 October 2012 records that the North American grocery spin-off closed at 5 p.m. Eastern that day.
Shareholders of record on 19 September 2012 received one share of Kraft Foods Group for every three Kraft Foods Inc. shares.
The same release states that Kraft Foods Inc. was renamed Mondelēz International, Inc., and that regular-way trading would open on 2 October 2012 under MDLZ, with KFT retired and KRFT opening for the grocery book.
A Nasdaq advisory the next morning confirmed that MDLZ had begun trading on The Nasdaq Global Select Market on 2 October 2012.
The mechanism is a tax-free spin-off that split one grocery-and-snacks book into two Nasdaq tapes and retired the old KFT letters.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that stopped KFT and opened MDLZ.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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