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PAYPAL TO LIST ON NASDAQ

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PAYPAL TO LIST ON NASDAQ

May 15 2015, 06.10am GMT

STOCK.com

PayPal, eBay Inc.’s (NASDAQ: EBAY) payment processing unit, announced its plans on Thursday to list its shares on the Nasdaq later this year, using the ticker “PYPL”.

This is not the first time that PayPal has been listed and when this plan is executed, PayPal Inc. will return to being a publicly traded stand-alone entity. In February 2001, when the Californian based payment processor first went public, it also traded its shares on the tech-heavy Nasdaq index. At that time, PayPal was also listed under the ticker PYPL.

As PayPal prepares to break away from eBay (EBAY, +2.19%),  Dan Schulman, chief executive of PayPal said in a note on the company’s website that he is thrilled and honored that PayPal will be returning to its roots as being an independent company.

Schulman went on to confirm that in the second part of 2015, the electronic payments company will trade publicly again on the Nasdaq with the original “PYPL” stock ticker symbol. He further added that this is a significant symbol for PayPal as it represents the company’s unbroken dedication to the spirit of the first original vision that triggered the launch of PayPal seventeen years ago.

No announcement has been made regarding the specific date that PayPal will list.

In late September in 2014, the split between eBay and PayPal was announced following calls from Carl Icahn, a billionaire investor, to split the companies.

PayPal was originally launched in 1998 and then in 2002, eBay bought the company. Since then, PayPal has processed more than an impressive $1 trillion in payments and became, as Schulman said, the world leaders in mobile payment platforms.

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