Fortis (FTS) to Trade on NYSE
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Fortis Inc. (TSX: FTS) (NYSE: FTS) announced today that it expects its common shares will commence trading on the New York Stock Exchange ("NYSE") on or about October 14, 2016 under the ticker symbol "FTS." Fortis will retain its listing on the Toronto Stock Exchange ("TSX") under the symbol "FTS."
Fortis announced its intention to list on the NYSE earlier this year in connection with the agreement and plan of merger pursuant to which Fortis will acquire ITC Holdings Corp. ("ITC") in a transaction valued at approximately US$11.3 billion. The transaction is expected to close on or about October 14, 2016. Fortis received approval to list on the NYSE on May 6, 2016. Following the closing of the merger with ITC, approximately 60% of the Corporation's assets will be located in the United States.
"We are excited to see the Fortis ticker run across the NYSE screens, improving access for a broader group of investors and trading activity for Fortis shares in the U.S.," said Barry Perry, President and Chief Executive Officer of Fortis.
The Corporation will celebrate its listing by ringing the NYSE Opening Bell on Tuesday, October 18, 2016.
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