Under Armour, Inc. has filed an application to list its securities on the New York Stock Exchange (NYSE). The company looks to start trading its shares of Class A Common Stock under the symbol “UA” on the NYSE on December 18, 2006. Until that time, the company's shares will continue to trade on the NASDAQ National Market under the symbol “UARM”.
“We are excited about our new relationship with the NYSE, and we appreciate our association with NASDAQ and thank them for their support in the growth of our company,” said Kevin A. Plank, Chairman and CEO of Under Armour. “As our brand and our business become more global every day, raising Under Armour's visibility in the global financial markets becomes increasingly more important. We are proud of the performance we've delivered to shareholders and view this move as an important milestone in the evolution of our company.”
Under Armour completed its IPO on November 18, 2005, nearly doubling its share price from the $13 offering price to a closing price of $25.30 in the first day of trading. In the first year of trading, Under Armour shares have risen 85% from the closing price on the first day of trading.
“Under Armour is one of the fastest growing brands in the world and a market leader in performance athletic apparel – just the type of brand that thrives on the NYSE,” said NYSE Group, Inc. CEO John A. Thain. “We are very pleased to welcome Under Armour to our family of listed companies and look forward to an outstanding partnership with the company and its shareholders.”