Beginning July 3, NASDAQ-listed companies have been classified under three listing tiers: the new NASDAQ Global Select Market; the NASDAQ Global Market, formerly known as the NASDAQ National Market; and the NASDAQ Capital Market, which remains unchanged. The NASDAQ Global Select Market has the highest initial listing standards of any exchange in the world based on financial and liquidity requirements, according to NASDAQ. Prior to the change, Foster Wheeler had been listed on the NASDAQ National Market.
"Our inclusion in the NASDAQ Global Select Market, with its rigorous qualification standards, is a further recognition of our transformed financial structure and significantly improved financial performance," said Raymond J. Milchovich, Foster Wheeler’s chairman, president, and chief executive officer.
Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of engineering, procurement, construction, manufacturing, project development, and management, research and plant operation services. It serves the refining, upstream oil and gas, LNG and gas-to-liquids, petrochemical, chemicals, power, pharmaceuticals, biotechnology, and healthcare industries. The corporation is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, N.J.
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks.
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