A Spin Out from an S&P/TSX Global Mining
Index Constituent
TORONTO, Oct. 24, 2016 /CNW/ - S&P Dow Jones
Canadian Index Services will make the following changes in the
S&P/TSX Canadian Indices:
Alcoa Inc. (NYSE:AA) will spin out its bauxite, aluminum and
casting operations into a new company to be named Alcoa Corp.
(NYSE:AA). Alcoa Inc. shareholders will receive one share of the
new Alcoa Corp. for every three shares held. Alcoa Corp. will be
added at zero price to the S&P/TSX Global Mining, the
S&P/TSX Global Base Metals and the S&P/TSX Equal Weight
Global Base Metals indices at the close of trading on Monday, October 31, 2016.
The parent company will retain its engineering, transportation
and global rolled products businesses and will be renamed Arconic
Inc. (NYSE:ARNC). Arconic Inc. will change its GICS from 15104010 –
Aluminum – to 20101010 – Aerospace & Defense – effective at the
open of trading on Wednesday, November 2,
2016. Arconic Inc. will remain a constituent of the
S&P/TSX Global Mining, the S&P/TSX Global Base Metals and
the S&P/TSX Equal Weight Global Base Metals indices.
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SOURCE S&P Dow Jones Indices