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IEC Electronics gets nod to uplist on Nasdaq

CEO Jeffrey T Schlarbaum says the move will enhance its visibility and increase the liquidity of the stock

IEC Electronics - IEC Electronics Corp gets nod to uplist on Nasdaq
IEC, together with its subsidiaries, provides electronic manufacturing services to the defense, medical, industrial, and aerospace sectors in the US

IEC Electronics Corp (NYSEAMERICAN:IEC), an electronic manufacturing services company, scored a major milestone Friday by receiving approval to uplist on the tech-laden Nasdaq with the symbol "IEC”. 

The company said trading on the Nasdaq is expected to start on January 2, 2020. The company’s shares will continue to trade on the NYSE American until December 31. 

READ: IEC Electronics shares surge on fiscal 4Q revenue and earnings beat

“We are excited to join Nasdaq. Given our strong growth in revenue and profitability, we believe this move will further enhance our visibility in the marketplace, expose our company to a larger audience of institutional investors and ultimately increase liquidity and shareholder value,” said IEC Electronics CEO Jeffrey T Schlarbaum.

The stock was flat at $9.18 in early trade.

Founded in 1966, IEC, together with its subsidiaries, provides electronic manufacturing services to the defense, medical, industrial, and aerospace sectors in the US.

— Adds stock price —

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

Quick facts: IEC Electronics

Price: 15.63 USD

Market: NASDAQ
Market Cap: $164.16 m

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on 11/24/2020

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