Another Step Away From the NASD
Traders Magazine, March 2002
Nasdaq moved one step closer to completely cutting its ties with its parent, the National Association of Securities Dealers. Nasdaq recently completed the repurchase of 33.8 million shares of Nasdaq stock. The shares - valued at $13 a share - were sold for $439 million. The shares were sold in two phases in a period over February and March. The purchase leaves the NASD with 43.2 million remaining shares, which represent underlying warrants that were issued during Nasdaq's private equity placement.
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