Weatherford moves to relist its shares on NASDAQ
HOUSTON - Weatherford International announced that it has publicly filed a Form 10 Registration Statement with the United States Securities and Exchange Commission to register its ordinary shares pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended, with no additional shares to be offered for sale.
The Company's voluntary filing of the Form 10 is subject to SEC review and, upon its effectiveness, Weatherford will be subject to the reporting requirements of the Exchange Act. In conjunction with the Form 10 becoming effective, Weatherford intends to list its ordinary shares on the NASDAQ stock exchange under the ticker symbol "WFRD", subject to approval from NASDAQ and the Company's compliance with the applicable listing requirements. Weatherford currently expects the registration and listing process to be complete in the second quarter of 2021.
Girish Saligram, President and Chief Executive Officer, commented, "We are excited to announce that we have filed our Form 10 Registration Statement. This is an essential step for the Company to fully return to the public markets. We believe this is the right time in our reemergence to relist on the NASDAQ stock exchange and that doing so will enhance long-term shareholder value by improving the Company's visibility, expanding liquidity in our ordinary shares, and providing a broader institutional investor base the opportunity to invest in the new Weatherford."
