ELMIRA — Shares of Chemung Financial Corp.’s common stock will begin trading on the NASDAQ Global Market tomorrow.
Chemung Financial, parent company of Chemung Canal Trust Company, will continue to use its CHMG ticker symbol.
“Our listing on the NASDAQ is a significant event in the 179-year history of our company,” Ronald Bentley, president and CEO of Chemung, said in a release. “We believe the move to NASDAQ should improve liquidity in our shares for our current and future shareholders. Shareholders should benefit from a more efficient trading platform, and we would expect our listing to enhance our visibility among the investment community. Listing our company on a national stock exchange is another important step in our strategic plan to position our company for the future.”
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The stock currently trades over the counter with shares closing at $23.65 on Wednesday.
Headquartered in Elmira, Chemung Financial Corp. (www.chemungcanal.com) is the holding company for Chemung Canal Trust Co., which has $1.3 billion in total assets and 28 offices in eight New York counties as well as Bradford County, Pa. The company also owns CFS Group, Inc., a financial-services subsidiary offering services including mutual funds, annuities, brokerage services, tax preparation, and insurance.
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