Commodore’s history as a publicly traded company
Commodore’s history as a publicly traded company
Commodore began as a legal entity on October 10, 1958 as a privately-owned company named Commodore Portable Typewriter Company Limited. A mere four years after Commodore was founded, the name was changed to Commodore Business Machines (Canada) Limited and its stock became publicly traded. This is a brief history of Commodore’s existence as a publicly traded company on the three exchanges that traded Commodore’s stock throughout its history.
July 23, 1962: Trading began in shares of Commodore Business Machines (Canada) Limited on the Montreal Stock Exchange.
May 9, 1974: Trading began in shares of Commodore Business Machines (Canada) Limited as ticker symbol CBU on the American Stock Exchange (AMEX). Commodore’s own 1974 annual report lists the date as May 10, but newspaper articles and the actual trading data gathered from AMEX confirm it was May 9.
August 20, 1976: Commodore’s ticker symbol remained CBU on the American Stock Exchange, but the company name was changed to Commodore International Limited on AMEX.
September 14, 1977: A cease-trading order was issued for Commodore International on the Montreal Stock Exchange and the American Stock Exchange. Commodore’s PET announcement caused such a flurry of stock activity that officials ceased trading, assuming it was fraudulent.
October 12, 1977: The cease-trading order was lifted, but Commodore International Limited voluntarily withdrew from the Montreal Stock Exchange. As such, Commodore’s trading on the Montreal Stock Exchange ended September 14, 1977.
March 5, 1981: Commodore International Limited (CBU) Trading ended on the American Stock Exchange.
March 6, 1981: Commodore International Limited shares began trading on the New York Stock Exchange as ticker symbol CBU.
April 26, 1994: Commodore International Limited (CBU) was de-listed from the New York Stock Exchange.
are common shares in Commodore Business Machines (Canada) Limited worth anything?
No, nothing at all today. If you owned shares of Commodore Business Machines (Canada) Limited at the time when Commodore reorganized and Commodore International Limited became the parent company in July, 1976 you would have been entitled to receive one common share of CIL stock for each share of CBM you held. On April 6, 1978 Commodore Business Machines (Canada) Limited was legally dissolved.