Encompass Health Corporation (EHC) has completed its spin-off, resulting in the distribution of Enhabit, Inc. shares with the ratio of 0.5 Enhabit, Inc. per every 1 Encompass Health Corporation share/s held at the end of 30.06.2022.
Icahn Enterprises LP (IEP) has distributed a stock dividend with the ratio of 0.0413335868 for 1 share/s held at the end of 18.05.2022.
And a gentle reminder: Monday, the 4th of July, is an official holiday (Independence day) in the United States. Therefore, the US market will be closed for trading.
We’ve executed the following corporate events on Monday, 04.07.2022 and Tuesday, 05.07.2022:
04.07.2022:
Compagnie d’Entreprises CFE (CFEB) has completed its spin-off, resulting in the distribution of Dredging Environmental & Marine Engineering NV shares with the ratio of 1 Dredging Environmental & Marine Engineering NV per every 1 Compagnie d`Entreprises CFE share/s held at the end of 2022-06-29.
Prudential Bancorp, Inc. (PBIP) has been acquired by Fulton Financial Corporation. Based on the ratio of 0.7974 Fulton Financial Corporation per every 1 Prudential Bancorp, Inc. share/s held, previous investors, are due to a distribution of Fulton Financial Corporation.
Whiting Petroleum Corp. (WLLAW) has been acquired by Oasis Petroleum, Inc. Based on the ratio of 0.5774 Oasis Petroleum, Inc. per every 1 Whiting Petroleum Corp share/s held, previous investors, are due to a distribution of Oasis Petroleum, Inc.
Salisbury Bancorp, Inc. (SAL) has distributed a stock dividend with the ratio of 1 for 1 share/s held at the end of 2022-06-29.
05.07.2022:
Active Energy Group PLC (AEG) has successfully completed its 1-for-35 reverse stock split.
Zurn Water Solutions Corp. (ZWS) changed its name to Zurn Elkay Water Solutions Corp.
MEDNAX, Inc. (MD) changed its name to Pediatrix Medical Group, Inc.
Coherent, Inc. (COHR) has been acquired. Awaiting further details.
Oasis Petroleum, Inc. (CHRD) changed its name to Chord Energy Corp.
Abeona Therapeutics, Inc. (ABEO) has completed its 1-for-25 reverse stock split.
Brickell Biotech, Inc. (BBI) has completed its 1-for-45 reverse stock split.
Eagle Pharmaceuticals, Inc. (EGRX) acquired Acacia Pharma Group PLC.
GXO Logistics, Inc. (GXO) acquired Clipper Logistics PLC.
Eurocommercial Properties NV (ECMPA) has distributed a stock dividend with the ratio of 0.0133333333 for 1 share/s held at the end of 2022-06-15.
Fanhua, Inc. (FANH) has completed its spin-off, resulting in the distribution of CNFinance Holdings Ltd ADR shares with the ratio of 0.2355 CNFinance Holdings Ltd ADR per every 1 Fanhua, Inc. (FANH) share/s held at the end of 2022-06-07.
We’ve executed the following corporate events on Wednesday, 06.07.2022:
Schweitzer-Mauduit International, Inc. changed its name and ticker to Mativ, Inc. (MATV).
Advaxis, Inc. (ADXSD) changed its ticker to ADXS.
Envirotech Vehicles, Inc. (EVTV)changed in listing to NASDAQ and its ticker to EVTV.
Neenah, Inc. (NP) was acquired, awaiting further details.
Sos Ltd - ADR (SOS) has completed its 1-for-50 reverse stock split.
Security National Financial Corp - Class A (SNFCA) has distributed a stock dividend with the ratio of 0.05 for 1 share/s held at the end of 2022-06-29.
II-VI, Inc. (IIVI) acquired Coherent, Inc.
Advenis SA (ADV) has been acquired by Inovalis SA.
GSK PLC (GSK) acquired Sierra Oncology, Inc.
Ossiam FTSE 100 Minimum Variance UCITS ETF 1C (GBP) has been liquidated.
We’ve executed the following corporate events on Thursday, 07.07.2022:
Westpac Banking Corp ADR (WBK) has been liquidated.
Mallinckrodt PLC (MNKPF:OTCPK) that the company has filed for Chapter 11 bankruptcy and got delisted from OTC Markets on 16.06.2022.
Neenah, Inc. (NP) has been acquired by Mativ, Inc. Based on the ratio of 1.358 Mativ, Inc. per every 1 Neenah, Inc. (NP) share/s held, previous investors, are due to a distribution of Mativ, Inc.
Seanergy Maritime Holdings Corporation (SHIP) has completed its spin-off, resulting in the distribution of United Maritime Corp. shares with the ratio of 0.00847457 United Maritime Corp. per every 1 Seanergy Maritime Holdings Corporation (SHIP) share/s held at the end of 2022-06-24.
Entegris, Inc. (ENTG) acquired CMC Materials, Inc. in a cash and stock transaction.
Daily Mail & General Trust PLC has completed its spin-off, resulting in the distribution of Cazoo Group Ltd (CZOO) shares with the ratio of 0.5749 Cazoo Group Ltd (CZOO) per every 1 Daily Mail & General Trust PLC share/s held at the end of 2021-12-16.
Will our average cost for GSK and HLN be adjusted to reflect the amount of the company that was spun off? Around an 80/20 ratio.
So that is that our average cost for HLN should be around 20% of our GSK average before the spin off. Currently it is sat at an average of £0 so any further purchases will provide a wildly inaccurate return.
Other brokers have been able to accommodate this for their customers following the spin off and subsequent consolidation.
Hey, @Rasputin. In the case of a spin-off, the new shares are issued with an average price of zero, and the price of the old share has a decline on the ex-date of the event. Hence, the spin-off does not change the average price of the old shares.
The 4 to 5 consolidation appears to have changed the average. My ~1400p average price has now risen to ~1700p…
Not sure if this was intentional or not, but it’s completely wrong now. I was in the green with these before the spin off/consolidation. Now on 212 it is showing as in the red/barely in the green.
I don’t know if this is something you want to look into on my account or discuss further to understand the issue for future events like this?
That’s correct though right? Your 5 shares have become 4 shares. So you have 4 shares bought at the price of the original 5 - the difference is the Haleon spin off?
Is it though? Nobody seems to know for certain. I’m not sure that what has happened to the average price is correct.
And if it is right, where has my paper profit disappeared to? ~25% up pre split and consolidation, now only showing 1.5% gain on GSK and I think around 15% for HLN. The money hasn’t just disappeared and the price hasn’t changed that much.
Yes, I was prompting your memory - I’m fairly certain.
Well, this is standard market stuff - Haleon is your paper profit. You lost share value when Haleon was span out, GSK made up the difference in price, at least at a visual level with a consolidation of share number.
If you have a stock split where a company has a stock you bought for £100 and splits it into 2. You now have two shares that you paid £100 for - or £50 each.
The reverse is true for consolidation, if you have 2 £50 shares and the company consolidates 1 for every 2, you end up with 1 share that you paid £100 for.
We’ve executed the following corporate events on Wednesday, 20.07.2022:
Open Orphan PLC (ORPH) has successfully completed its spin-off, resulting in the distribution of Poolbeg Pharma PLC (POLB) shares.
Petropavlovsk PLC (POG) has been delisted.
PS Business Parks, Inc. (PSB) has been acquired.
B. Riley Principal 150 Merger Corp. (BRPM) underwent a SPAC Merger. In light of that, the name and ticker have been changed to FaZe Holdings, Inc. (FAZE).
Ipsidy, Inc. (AUID) changed its name to authID, Inc.
Halo Collective, Inc. (HCAND) changed its ticker to HCANF.
I understood that all of that was the case already, but my issue is that the consolidation took place with the aim being to keep the price roughly the same as it was pre split. They achieved that, and yet my average price has gone up by over 300p, surely that should stay the same as well? It has done by my calculations, just not on 212.
