NEW YORK, N.Y. – Kraft Foods Inc. says it’s transferring its stock listing to the Nasdaq from the New York Stock Exchange to cut costs.
The packaged foods maker, which is splitting into two publicly traded companies later this year, also says the move will give its brands such as Oreo and Cadbury greater visibility. Both companies will trade on the Nasdaq.
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The transfer will take place June 26. The Northfield, Ill., company’s ticker will remain “KFT” until the split.
One company will focus on North American grocery brands like Oscar Mayer and be called Kraft Foods Group Inc., with the symbol “KRFT.” Mondelez International Inc., which will focus on global snack brands, will trade under the symbol “MDLZ.”
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