PepsiCo to move to Nasdaq after nearly a century with NYSE

FILE PHOTO - A bottle of Pepsi is seen in this photo illustration taken in Willmette, Illinois February 10, 2015. REUTERS/Jim Young

(Reuters) - PepsiCo Inc PEP.N is moving its listing to the Nasdaq, ending a century-long association with the New York Stock Exchange.

“We believe this move will provide us with greater cost-effectiveness and access to Nasdaq’s unique portfolio of tools and services to connect with our investors more efficiently,” Jamie Caulfield, Pepsi’s senior vice president of investor relations, said in a statement.

According to the NYSE, PepsiCo traces its listing date to Dec. 18, 1919, when it was known as Loft Inc.

The shares are expected to begin trading on the Nasdaq on Dec. 20.

On the tech-heavy Nasdaq, Pepsi will join some of the most valuable companies in the world such as Apple Inc AAPL.O and Alphabet Inc GOOGL.O.

Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel