Pacer International, Inc. (Concord, Calif.), a non-asset-based North American third-party logistics and freight transportation provider, says its stock will be listed on the new NASDAQ Global Select Market, effective July 3..
NASDAQ has previously announced that, beginning July 3, companies listed on the exchange will be 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, Pacer has been listed on the NASDAQ National Market.
NASDAQ has indicated that approximately 1,200 of its 3,200 listed companies will qualify for the top Global Select Market designation.
Source: Pacer International Inc.