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Red Hat seeks NYSE listing

Open-source software company Red Hat, now trading on the NASDAQ, has applied to list its common stock on the New York Stock Exchange.

Open-source software company Red Hat announced Friday that it has filed an application to list its common stock on the New York Stock Exchange. Assuming the application is approved, the company would begin trading on the NYSE on Dec. 12 under the symbol, RHT. Until then, it will continue to trade on the NASDAQ under the symbol, RHAT.

"We believe that listing on the New York Stock Exchange will increase Red Hat's visibility among investors, reduce trading volatility and offer more efficient pricing,? said CFO Charlie Peters said in a statement.