Novartis on the stock exchange
This article was originally published in The Tan Sheet
Executive Summary
Company begins trading on the New York Stock Exchange May 11, opening at 36 and closing the day at 36-3/4; the firm closed May 12 up 1/16 to 36-13/16. Novartis is offering American depository shares on the NYSE; 40 ADSs equal one Novartis registered share traded on the Swiss Stock Exchange. The listing improves Novartis' visibility and increases the chances it will pursue a major acquisition or merger in the near future
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