Weatherford Gets Nod to List on Swiss Exchange
Weatherford reports that the Swiss Exchange ("SIX") has approved the listing and trading of its shares on SIX starting 17 November 2010, under the stock ticker WFT.
The inclusion of the 758,446,637 registered shares of Weatherford into the benchmark SPI Index is expected to occur in a staggered manner over five trading days, starting with the first trading day on 17 November 2010, with 20 percent of the free-float market capitalization factored into the Index after the close of the first trading day and an additional 20 percent on each of the subsequent four trading days.
Based on the companys size as measured by free float market capitalization and volume traded on the SIX, the Swiss Exchange is considering adding WFT to the SMI Index, an index of the 20 largest and most liquid shares on the Exchange. SIX is expected to make its decision regarding WFT's inclusion in the SMI Index in the first quarter of 2011. If WFT meets the SIX criteria, the earliest date WFT would enter the SMI Index would be after close of trading on the Eurex monthly expiration date of 18 March 2011, for effect as of 21 March 2011.
Weatherford's SIX listing will help expand the Company's presence within the global investment community and reinforce the company's growing presence in the Eastern Hemisphere, which is the source of a significant portion of the company's current and anticipated future earnings.
Weatherford shares continue to be listed on the New York Stock Exchange (NYSE) and the NYSE Euronext.
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