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Alexander & Baldwin Move Over to the NYSE

5 September 2008 - News - Editor

Honolulu-based Alexander & Baldwin Inc. has announced its intent to move the trading of its stock from NASDAQ to the New York Stock Exchange (NYSE), effective 1 October under the new ticker symbol of “AXB”. While not neglecting to thank NASDAQ for its past support, chairman and chief executive officer of Alexander & Baldwin, Allen Doane expressed his confidence that this move would provide an efficient and visible platform for the company’s shareholders.

In addition to Alexander & Baldwin’s strong presence in Hawaii, the company continues to steadily gain ground on mainland USA as well as internationally. This regional and international expansion is one of the motivating factors for the move to the NYSE which is seen as being one of the most prestigious and recognized stock exchanges in the world.

As one of Hawaii’s historical “Big Five” sugar corporations, Alexander & Baldwin has been in operation for 138 years. The company still has interests in the cultivation of sugar cane, and has expanded over the years to incorporate real estate, shipping and diversified agriculture. The company’s headquarters is located in the Alexander & Baldwin Building, built in 1929, and situated in downtown Honolulu.

Alexander & Baldwin remains one of the largest private landowners in the State of Hawaii and also owns numerous income properties in the continental United States. Their agricultural interest includes the cultivation of macadamia nuts and coffee and their shipping business focuses primarily on carrying freight between Pacific Coast ports, Hawaii ports and Guan. Businesses owned by Alexander and Baldwin include Hawaiian Commercial & Sugar Company; East Maui Irrigation Co., Ltd.; Matson Navigation Co., Inc. which includes Matson Integrated Logistics and Global Distribution Services; Maui Brand Sugars; Kauai Coffee Company, Inc.; Kauai Commercial Company, Inc.; and A&B Properties, Inc.

Chief executive officer of NYSE Euronext, Duncan Niederauer, welcomed Alexander & Baldwin to the NYSE, highlighting the outstanding business and reputation that the company has built up and promising the commitment of the NYSE to providing the highest levels of market service and quality. To celebrate the company’s move to the New York Stock Exchange, representatives from Alexander & Baldwin will ring the NYSE Opening Bell on 23 October 2008.,/p>

 


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