Kraft Foods Inc. announced today it will transfer its stock exchange listing to Nasdaq from the New York Stock Exchange. The transfer will take place on June 26, 2012. The ticker symbol will remain KFT. Kraft Foods says its decision to transfer includes reduced costs and greater visibility advantages for its brands.
Kraft Foods also reannounced plans to split into two companies before the end of the year - a global snacks business called Mondelez International, Inc. and a grocery business named Kraft Foods Group, Inc. Both companies will trade on the Nasdaq. The symbol for Mondelez will be MDLZ and the symbol for Kraft Foods will be KRFT. The symbol KFT will be retired following the split.
Kraft's move is a big deal for the Nasdaq following the Facebook disaster. Take a look: