XPO to GXO spinoff

Not seen this mentioned yet, GXO started trading a few hours ago on NYSE and shares were awarded to existing XPO logistics holders 1:1.

https://www.globenewswire.com/news-release/2021/07/30/2272401/0/en/XPO-Logistics-Spin-Off-GXO-Logistics-to-Ring-NYSE-Opening-Bell.html

GXO has not been added yet, and as an XPO shareholder I’ve not seen any notices inside t212 that recognises the 1:1 allocation

@David @Y.M @Rumen @Team212

Thanks

Hey :wave:,

We are waiting for additional information from IB regarding the event. Then we’ll disclose further details to all eligible shareholders. :v:

@Bogi.H thanks for the info, it’s been a month and I wanted to close both positions… any updates from IB?

Hey, @Melvin212 :wave:

XPO Logistics, Inc. completed the spin-off of GXO Logistics, Inc. For each share of XPO held before 02.08.2021 holders are entitled to 1 new share of GXO. We’ve sent notification to eligible shareholders along with the cash equivalent for the corresponding GXO shares. The respective amount is present in the History → Dividend section.

If you have any further enquiries about the event, feel free to DM me anytime. :e-mail:

Thanks… wish there was a clear in-app notification or email to say the shares arrived in the form of a pseudo “dividend” so that I could’ve bought actual GXO with it, but I didn’t because I thought I would be given actual GXO shares eventually and so didn’t want to add even more to the position. Missed out on 20% since spinoff :frowning:

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Hey, :wave:

The conversion of shares as a result of corporate events is still in development. When it comes to such cases, eligible shareholders receive the cash equivalent of the new shares. Nevertheless, we’ll make sure to let you know once the feature is available.

As for the in-app notification, thank you for the feedback. We’ll definitely have it in mind for future corporate events.

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