Finance History | Nasdaq MarketSite — Sixteen Dollars for Thirty Million Discrete Shares Called ONNN
· 2000-4
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Finance History | Nasdaq MarketSite — Sixteen Dollars for Thirty Million Discrete Shares Called ONNN
kevin
People treat onsemi as an Arizona power-chip house that always printed ON after a finished Nasdaq book.
The April 2000 issuer was ON Semiconductor Corporation, the Phoenix discrete and analog business spun out of Motorola in 1999.
A same-day EE Times report dated 28 April 2000 records that thirty million shares began trading on Nasdaq at sixteen U.S. dollars in 2000 dollars under the letters ONNN.
The company's own history page dates the spin-off 4 July 1999 and the initial public offering 28 April 2000.
The tape later shortened the letters to ON on 6 April 2015, a change the company announced in a 23 March 2015 current report.
The present tape is still ON on the Nasdaq Stock Market.
The mechanism is a cash initial public offering of a Motorola carve-out that put a discrete-chip book onto Nasdaq under four letters that later shrank to two.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that first printed ONNN.
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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