Cadence to List Solely on NASDAQ
October 26 2005 - 5:06PM
PR Newswire (US)
First Dual-listed Company to Switch to NASDAQ NEW YORK, Oct. 26
/PRNewswire-FirstCall/ -- The Nasdaq Stock Market, Inc.
(NASDAQ:NDAQ) today announced that Cadence Design Systems, Inc.
(NYSE:CDN) Nasdaq will list its common stock solely on the NASDAQ
National Market. Cadence dual listed its stock on the NASDAQ in
January 2004. Cadence is the first NYSE and NASDAQ dual-listed
company to move its listing solely to NASDAQ. Cadence common stock
will cease trading under the symbol CDN on both the NYSE and NASDAQ
on October 28, 2005. The stock will begin trading on the NASDAQ
National Market under the new symbol CDNS when the market opens on
October 31, 2005. Bob Greifeld, president and chief executive
officer of NASDAQ said, "We are very pleased Cadence has decided to
list solely on NASDAQ, a decision based on the benefits of our
competitive market model. This move highlights our dual listing
program and the fact that institutional investors prefer to trade
on NASDAQ's electronic platform." Greifeld continued, "Cadence
joins some of the most innovative companies in the world with its
listing on NASDAQ." Cadence enables global electronic-design
innovation and plays an essential role in the creation of today's
integrated circuits and electronics. Customers use Cadence software
and hardware, methodologies, and services to design and verify
advanced semiconductors, printed circuit boards and systems used in
consumer electronics, networking and telecommunications equipment,
and computer systems. Cadence reported 2004 revenues of
approximately $1.2 billion, and has approximately 5,000 employees.
The company is headquartered in San Jose, Calif., with sales
offices, design centers, and research facilities around the world
to serve the global electronics industry. More information about
the company, its products, and services is available at
http://www.cadence.com/. NASDAQ is the largest electronic
screen-based equity securities market in the United States. With
approximately 3,200 companies, it lists more companies and, on
average, trades more shares per day than any other U.S. market. It
is home to companies that are leaders across all areas of business
including technology, retail, communications, financial services,
transportation, media and biotechnology. NASDAQ is the primary
market for trading NASDAQ-listed stocks. For more information about
NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com/ or the
NASDAQ Newsroom at http://www.nasdaq.com/newsroom/. NASDAQ makes no
representation about the financial conditions of any company.
Investors should evaluate companies carefully before investing.
DATASOURCE: NASDAQ CONTACT: Bethany Sherman, +1-212-401-8714, or
Silvia Davi, +1-646-441-5014, both of NASDAQ Web site:
http://www.nasdaq.com/ http://www.cadence.com/
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