(Reuters) - Trump Media & Technology Group said on Monday it will become the first stock to be listed on the New York Stock Exchange Texas, handing an early boost to the venue as it gears up for fierce competition in the state.
The company, which operates Truth Social and is primarily owned by President Donald Trump, will also list its warrants on the exchange. Its primary listing, however, will remain on the Nasdaq, the company said.
Texas is the headquarters for the largest number of companies listed on the NYSE, with a combined market value of over $3.7 trillion, and is now seeing rising competition for market dominance among stock exchanges.
The move could bolster Intercontinental Exchange-owned NYSE, as its rival Nasdaq has also promised to open a regional headquarters in the Lone Star State earlier this month.
The two dominant listing venues will also have to contend with the Texas Stock Exchange, a venture backed by heavyweights including BlackRock and Citadel Securities.
"This listing, alongside our plans to reincorporate in Florida, shows we're part of a growing movement to take our business to states that value free enterprise and personal freedom," said Trump Media CEO Devin Nunes.
By Niket Nishant
Editing by Leroy Leo
