VimpelCom Jumping to NASDAQ

VimpelCom Jumping to NASDAQ

VimpelCom , a large international provider of telecommunications services, will transfer the listing of its American depositary shares (ADS) from the New York Stock Exchange to the NASDAQ, the company announced today.

According to the company's statement, it "believes the transfer to NASDAQ will provide VimpelCom shareholders with strong execution and liquidity, while offering the Company an expanded and cost effective set of listing and corporate services." The company expects to begin trading on the NASDAQ on Sept. 10, and will continue to trade under the same ticker, "VIP." Reuters reports that VimpelCom listed on the NYSE in 1996. The Nasdaq is heavy with tech stocks.

VimpelCom provides fixed and mobile telecom services to customers in Russia, several post-Soviet states, Laos, Algeria, Bangladesh, Pakistan, several African countries, Italy, and Canada. It currently has a combined 215 million wireless subscribers.

VimpelCom said it has scheduled a special shareholders' meeting for Sept. 25 to approve amendments to the company's bylaws related to the changing of exchanges. Shareholders of record on Aug. 19 will be eligible for that shareholders' meeting.


The article VimpelCom Jumping to NASDAQ originally appeared on

Fool contributor Dan Radovskyhas no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.