After eBay Split, PayPal will Trade on the Nasdaq

Dow Jones Newswires

EBay Inc. payments unit PayPal said Thursday that it plans to trade on the Nasdaq Stock Market when the two companies split later this year. PayPal will trade under the ticket symbol "PYPL," according to the San Jose, Calif., company. That is the same symbol PayPal used before being acquired by eBay in 2002 for about $1.5 billion. EBay and PayPal plan to split into separate publicly traded companies sometime in the third quarter. They didn't provide any more specific timing on Thursday. The companies have disclosed an operating agreement that will keep them closely aligned for at least five years, including a requirement that 80% of gross merchandise sales on still flow through PayPal.

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