DreamWorks Animation announced Friday it would transfer its stock listing from the New York Stock Exchange to NASDAQ effective Feb. 26 in a move designed to save costs.
The studio told wire service Reuters the change will give its shareholders “access to the most advanced trading platform and … cost effective services available on the market today.”
Meanwhile, Microsoft co-founder Paul Allen has sold his remaining shares in the company and has no further stake in DreamWorks Animation as of Dec. 31.
Allen had invested $500 million in DreamWorks as a startup in 1994 and as of December 2007 had owned about 18 percent of all Class A common shares.
Reuters estimates investing in DreamWorks paid off well for Allen, who likely made back significantly more than his original investment.