1. Trinity Industries dual lists stock on NYSE Texas, boosting local presence. 2. CEO highlights strength of Texas economy as a reason for listing. 3. Trinity maintains primary listing on NYSE but now trades on NYSE Texas. 4. Trinity provides rail transportation products and services across North America.
The dual listing enhances Trinity’s visibility and liquidity, likely attracting more investors. Historical examples show that dual listings often lead to increased trading volumes.
The news is significant as it enhances Trinity’s market position and potential investor interest. It emphasizes local commitment and taps into a growing exchange ecosystem.
Initial interest from investors in dual listings can drive short-term price appreciation. Similar cases have shown temporary price increases after such announcements.
DALLAS--(BUSINESS WIRE)--Trinity Industries, Inc. (NYSE: TRN) (“Trinity”) announced today the dual listing of its common stock on NYSE Texas, the new, fully electronic equities exchange based in Dallas, TX.
“Trinity Industries has been publicly traded on the NYSE for over 50 years and has been based in Texas since its incorporation in 1933,” said Jean Savage, Trinity’s Chief Executive Officer and President. “We believe in the strength of the Texas economy, and we are excited and proud to join NYSE Texas as a Founding Member in our home state.”
“As a leading industrial company based in Dallas, we are excited to welcome Trinity to our NYSE Texas community,” said Chris Taylor, Chief Development Officer, NYSE Group.
Trinity will maintain its primary listing on the New York Stock Exchange (the “NYSE”) and will trade under the same ticker symbol, “TRN”, on NYSE Texas.
Company Description
Trinity Industries, Inc., headquartered in Dallas, Texas, owns businesses that are leading providers of rail transportation products and services in North America. Our businesses market their railcar products and services under the trade name TrinityRail®. Our platform also includes the brands of RSI Logistics, a provider of software and logistics solutions, and Holden America, a supplier of railcar parts and components. Our platform provides railcar leasing and management services; railcar manufacturing; railcar maintenance and modifications; and other railcar logistics products and services. Trinity reports its financial results in two reportable business segments: (1) Railcar Leasing and Services Group, formerly the Railcar Leasing and Management Services Group, and (2) Rail Products Group. For more information, visit www.trin.net.