By Tess Stynes

–Teva Pharmaceutical Industries to switch listing to NYSE from Nasdaq in May

–Teva is the largest company ever by market capitalization to switch to NYSE from Nasdaq

–Rival exchanges are roughly even this year in grabbing each other’s listings

(Updates throughout with context; adds listing transfer by Arabian American in final three paragraphs).

NEW YORK (MarketWatch) — Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV), said it is moving its listing of U.S.-traded shares to the New York Stock Exchange from the Nasdaq Global Select Market in May.

Teva is largest company lured by the Big Board from the Nasaq ever, by market capitalization, and Teva’s transfer will mark the end of nearly 25-years for its American depository shares being listed on the Nasdaq.

Teva, the world’s largest maker of generic drugs, recently had a U.S. market capitalization of about $40.5 billion, according to FactSet Research data. The Israel company also has been diversifying into brand-name and over-the-counter drugs. Shares rose 0.3% to $43.19 in afternoon on Wednesday.

“The decision to move is something we have been considering for some time. We believe that the NYSE provides a great trading platform for Teva shares,” said Denise Bradley, Teva’s vice president for corporate communications in the Americas.

Teva is expected to begin trading on the New York Stock Exchange May 30.

A spokesman for Nasdaq OMX Group declined to comment on Teva’s listing transfer.

The Nasdaq retains about 70% of U.S.-listed health-care sector stocks, according to Nasdaq.

NYSE Euronext


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and Nasdaq OMX Group Inc.


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have battled for years to bring in, or poach, listings by offering promotions and other incentives. Much of the recent rivalry between the exchanges has focused on grabbing the listings of newly public companies, including a high-profile crop of technology initial public offerings. Facebook Inc.’s IPO, expected this spring, is highly coveted by the competing exchanges.

So far this year, the New York Stock Exchange and the Nasdaq are evenly matched for grabbing each other’s listings. Nasdaq has netted three of the New York Stock Exchange’s listings, worth around $45.7 billion. The New York Stock Exchange has grabbed five of Nasdaq’s listings, with a combined market capitalization of around $43.5 billion.

Last year, about $42 billion in listings migrated to the Nasdaq from the NYSE, while about $30 billion migrated to the NYSE, according to data provided by both exchanges.

Also on Wednesday Arabian American Development Co.


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said it plans transfer its listing to the New York Stock Exchange from the Nasdaq in the coming weeks.

Arabian American, based in Sugar Land, Texas, manufactures petrochemicals and owns a 37% interest in the Saudi-based Al Masane Al Kobra mining company. Arabian American has a market capitalization of $216 million. Shares rose 3.3% to $9.06.

“The costs are comparable. One of the major drivers [for the transfer from the Nasdaq] was that specialty chemical, industrial and metal and mining have much higher presence on the NYSE,” said Cameron Donahue, partner at Hayden IR, which handles investor relations for Arabian American.

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