Braves stock to begin trading

Liberty Media says shares will be in play on Monday.

Shares of stock in the Braves are expected to begin trading Monday, according to team owner Liberty Media.

Liberty said it completed a long-in-the-works transaction late Friday to exchange its existing stock for three new tracking stocks — one tied to the Braves (Liberty Braves stock), one tied to the company’s 61 percent stake in satellite radio provider SiriusXM (Liberty SiriusXM stock) and one tied to the company’s other holdings (new Liberty Media stock).

Each share of Liberty’s existing stock is being exchanged for one share of Liberty SiriusXM stock, 0.1 share of Liberty Braves stock and 0.25 share of the new Liberty Media stock, according to the company.

“Liberty anticipates that the newly issued shares will commence trading or quotation in the regular way ... on Monday,” the company said.

The Braves stock will trade under the symbols BATRA (Series A stock), BATRB (Series B) and BATRK (Series C). The Series A and C shares will trade on the Nasdaq Global Select Market and the Series B shares on the OTC market, Liberty said.

The stock will allow investors to buy and sell shares in the Braves separate from the rest of the Colorado-based conglomerate. The Braves will become one of the few sports teams with their own publicly traded shares.

The Braves tracking stock is intended to reflect — or track — the economic performance and value of the team and its stake in a mixeduse development being built alongside a new Cobb County stadium. Both SunTrust Park and The Battery Atlanta are slated to open next year.

At a stockholders meeting last week, Liberty Media Chairman John Malone told investors to “keep in mind the Braves now are a fairly major real-estate business as opposed to just a baseball club.”