Matson parent lists on the NYSE
Forget surfboards, Wednesday was all about the “Big Board” for one Hawaiian shipping company.
Alexander & Baldwin Inc., parent company of Matson Navigation, began trading its stock on the New York Stock Exchange under the new ticker symbol “AXB” Wednesday, moving from the Nasdaq.
Allen Doane, chairman and chief executive officer, said the big board listing comes 95 years to the day that the firm first began trading as a public company on the Honolulu Stock and Bond Exchange.
Alexander & Baldwin, headquartered in Honolulu, is engaged in ocean transportation and integrated logistics services through Matson Navigation Co. Inc., Matson Integrated Logistics Inc. and Matson Global Distribution Services. It also is involved in real estate, through A&B Properties Inc., and in agribusiness, through Hawaiian Commercial & Sugar Company and Kauai Coffee Co. Inc.