LyondellBasell’s common stock is now traded on the New York Stock Exchange (NYSE) under the symbol LYB for Class A ordinary shares and LYB.B for Class B ordinary shares. The stock began trading on The Big Board, as the exchange is known, when the market opened on Oct. 14, 2010.
The stock price can be tracked on our website homepage and on the Investor Relations page.
“We have achieved a significant milestone in establishing our foundation for the future through the listing of LyondellBasell shares on the New York Stock Exchange,” said LyondellBasell Chief Executive Officer Jim Gallogly. “The NYSE is the world’s largest equity market and listing here will provide a more liquid and transparent mechanism for investors wanting to own shares in one of the world’s premier chemical companies.”
On the initial day of trading on the NYSE, LyondellBasell had approximately 566 million ordinary shares outstanding, including approximately 343 million Class A ordinary shares and approximately 223 million Class B ordinary shares. The Class A shares previously traded in the over-the-counter market under the symbol LALLF and the Class B shares under LALBF. The combined daily trading volume for the two classes had averaged 3.2 million shares from May 1 until moving to the NYSE. No additional shares were sold as part of the NYSE listing.
Both the Class A and B shares are common stock. The company has no preferred stock. The Class B shares were distributed as part of the company’s plan of reorganization as a condition of the rights offering backstop. Provisions exist in that plan for the shares to potentially be converted to Class A shares.
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