PepsiCo’s Move to Nasdaq Marks Largest Company by Market Cap to Switch Exchanges
As the year draws to a close, Nasdaq has not only completed its fourth straight year of capturing the most listings transfers by market cap of any U.S. exchange, but we’ve also celebrated a significant milestone by surpassing over $1 trillion in total market cap that has elected to move to our market following a listings review. Global food and beverage leader PepsiCo (PEP) is the most recent company to announce its plans to move to Nasdaq from the New York Stock Exchange (NYSE). Not only are PepsiCo’s products enjoyed by consumers one billion times a day in more than 200 countries worldwide, but the $166B market cap company is also truly innovating their business. They are committed to Performance with Purpose – focusing on transforming their business toward nutritious products, limiting their environmental footprint, and empowering people and communities where they do business.
Last week, Principal Financial Group (PFG), a global investment management company with a $20 billion market cap, also announced its intent to transfer to Nasdaq. Principal determined that Nasdaq’s best-in-class investor services, greater brand visibility and marketing power offered, among other benefits, offered a well-matched exchange partnership.
When considering our long-term partnership, companies believe strongly in our superior market model, advisory and intelligence tools, strong visibility platform, and possible Nasdaq-100 inclusion opportunities. Notably, many companies can benefit from our more predictable all-inclusive fee structure that aligns with the growth and success of their businesses. The single annual fee includes all the ordinary costs of listing for the calendar year, as well as events such as secondary offerings and stock splits. In contrast, listed companies on other U.S. exchanges can experience an average of $21,0002 in fees for these events during the year.
Our partnership with our listed companies extends beyond the many listings benefits we provide, as we are also a relentless advocate for all public companies and the capital markets. In May we launched our blueprint to reform the equities markets; and we remain laser-focused on sparking debate, dialogue and action to move the needle in addressing the challenges public companies face today.
PepsiCo and Principal will join other new listings from the financial sector in the last several months, including HR and financial management software vendor Workday (WDAY) and commercial real estate company Brookfield Property Partners (BPY). We are extremely excited to have these companies join our family of innovative global brands—which includes other top consumer companies who moved their listing to Nasdaq like The Kraft Heinz Company, Walgreens Boots Alliance, T-Mobile US, American Airlines Group and many others.
To learn more about the specific advantages a Nasdaq listing could provide to your company, contact me at jr@nasdaq.com.
J.R. Mastroianni is Vice President, Listing Services at Nasdaq. In this role, Mr. Mastroianni oversees advising publicly traded companies not on our exchange on the benefits of becoming Nasdaq listed. During Mr. Mastroianni’s tenure he and his team have attracted many industry leading companies to transfer to Nasdaq including Marriott International, Viacom, Hasbro, The Wendy’s Company, The Kraft Heinz Company, Walgreens Boots Alliance, and Analog Devices.
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Listings Milestone: Over 1 Trillion in Market Capitalization has Transferred to Nasdaq
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.