Why is Baker Hughes moving its listing from NYSE to Nasdaq?

Baker Hughes' Board of Directors determined to voluntarily withdraw its principal listing from the NYSE and transfer it to Nasdaq. While the 8-K does not detail the specific strategic rationale, companies often consider such moves to streamline listings, potentially enhance visibility, and access different investor bases or trading platforms.

When will the change in listing take effect?

Trading of Baker Hughes' Class A Common Stock and its 5.125% Senior Notes due 2040 on the NYSE is expected to end at the market close on December 6, 2021. Trading on Nasdaq is scheduled to begin at market open on December 7, 2021.

Will this change affect my existing Baker Hughes shares?

Your existing shares of Baker Hughes Class A Common Stock will automatically be transferred to Nasdaq. There is no action required from shareholders. The company's stock ticker symbol (BKR) is expected to remain the same on Nasdaq.

What are the implications of moving to Nasdaq for the company and its investors?

The implications can vary. Nasdaq is often perceived as a market favoring technology and growth companies. The move might lead to increased trading liquidity, enhanced visibility within certain investor communities, and potentially different analyst coverage. Investors should monitor the company's performance and engagement on the Nasdaq platform following the transition.

BKR 8-K: Securities & Listing & Regulation FD

Summary

Baker Hughes Company (BKR) announced a significant strategic move to voluntarily transfer its primary stock listing from the New York Stock Exchange (NYSE) to The Nasdaq Stock Market LLC (Nasdaq). This change is scheduled to take effect with the close of trading on December 6, 2021, with trading commencing on Nasdaq on December 7, 2021. The company is also transferring the listing of its 5.125% Senior Notes due 2040 to Nasdaq. This transition is part of a broader initiative to consolidate its listings on a single exchange. This decision, made by the Board of Directors, is expected to streamline the company's exchange presence and potentially enhance trading liquidity and visibility on Nasdaq, a platform often associated with technology and growth-oriented companies. While the immediate financial impact is not detailed in this 8-K filing, investors should monitor any potential changes in trading patterns, analyst coverage, and the company's engagement with the Nasdaq listing environment. The company has issued a press release providing further details on this upcoming change.

Key Highlights

1Baker Hughes Company (BKR) is voluntarily moving its primary stock listing from NYSE to Nasdaq.
2The company will also transfer the listing of its 5.125% Senior Notes due 2040 to Nasdaq.
3The transition is expected to be completed by December 7, 2021, with trading commencing on Nasdaq.
4Trading on the NYSE for both Class A Shares and the Notes will cease at market close on December 6, 2021.
5The decision was made by Baker Hughes' Board of Directors.
6A press release dated October 27, 2021, has been issued to disclose this information.

Baker Hughes Co 8-K Report, Listing Notice (Oct 27, 2021)

Summary

Key Highlights

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