First Dual-listed Company to Switch 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.
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