Lure of the Big Board: CMS Enhancements wants to go to the Big Board.
Jim Farooquee, president of the Tustin computer company, said CMS has applied to the New York Stock Exchange to have its stock listed on the Big Board by mid-December.
Because NYSE companies tend to be followed more closely on Wall Street, Farooquee said the NYSE listing would increase the company's visibility with institutional and individual investors, as well as with the news media.
CMS hopes that increased visibility will attract more shareholders to buy the company's stock and boost trading activity.
CMS stock is currently traded on the National Assn. of Securities Dealers national market system, commonly known as NASDAQ.
In order to qualify for listing on the Big Board, a company must meet minimum criteria for the number of shareholders, shares outstanding, market value, net tangible assets, and pre-tax income and profitability.
CMS would become only the second Orange County computer company to be listed on the Big Board. The only one now listed is Tustin-based MAI Basic Four.
Two larger Orange County computer makers, Western Digital Corp. and AST Research Inc., have their securities listed on the American Stock Exchange and NASDAQ market, respectively.