Sanofi said it will transfer the listing of its American depositary shares to the Nasdaq Global Select Market from the New York Stock Exchange.

The transfer will be effective after market close on Dec. 31, and the ADSs will start trading Jan. 2, 2019, on the Nasdaq, still under the symbol SNY.

Sanofi said the transfer brings greater cost-efficiencies and access to a broad-based portfolio of investor relations tools.

The Paris-based pharmaceutical giant said the transfer will not impact its primary listing on the Euronext.