| DuPont: SEC Declares Chemours Unit Registration Effective - Analyst Blog | |
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DuPont DD said that the registration statement on Form 10 for the common stock of its fully-owned subsidiary – The Chemours Company – has been declared effective by the U.S. Securities and Exchange Commission ("SEC").
The registration statement contains information regarding the business and spin-off of Chemours – a company created from DuPont’s performance chemicals businesses. The spin-off of Chemours, a leading manufacturer of titanium dioxide (TiO2), is expected to consummate on Jul 1, 2015, subject to customary closing conditions.
DuPont, on Jun 5, announced pro-rata distribution of common shares of Chemours to holders of DuPont's common stock. The company’s board declared a pro-rata dividend to DuPont stockholders of the outstanding shares of Chemours.
Shareholders of DuPont will get one share of Chemours for every five shares of DuPont they hold on the record date of Jun 23, 2015. The distribution of shares will be made on Jul 1, 2015 (the distribution date). Prior to the distribution date, DuPont will mail an information statement containing information about Chemours and the spin-off to its common stockholders as of the record date.
Following its separation, Chemours will be a publicly traded company. Chemours shares are expected to trade on the NYSE on a ‘when-issued’ basis on Jun 19, 2015, under the ticker symbol “CC WI”. The entity is also expected to start "regular-way" trading on Jul 1, 2015, under the ticker symbol “CC”.
On the other hand, shares of DuPont is expected to trade "regular-way" under the symbol "DD" and "ex-distribution" under the symbol "DD WI” on the NYSE starting on June 19, 2015. Shares of DuPont that trade "regular-way" will offer their holders with the rights to receive shares of Chemours common stock on the distribution date.
The SEC declaration of effectiveness of the Form 10 represents satisfaction of one of the key conditions for the distribution of common shares of Chemours. The NYSE, on Jun 12, authorized Chemours for listing its shares on the exchange.
DuPont remains focused on executing strategic actions including portfolio optimization, disciplined capital allocation and cost control. The company is spinning off the struggling performance chemicals unit (Chemours) as it is gradually shifting its focus to high growth, less cyclical businesses including agriculture and nutrition.
DuPont is a Zacks Rank #3 (Hold).
Better-ranked chemical stocks include Celanese Corporation CE, LyondellBasell Industries N.V. LYB and Stepan Company SCL with all holding a Zacks Rank #1 (Strong Buy).
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du Pont de Nemours and Co
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CODE : DUPP.PA |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
du Pont de Nemours est une société basée aux Etats-Unis D'Amerique. du Pont de Nemours est cotée en France. Sa capitalisation boursière aujourd'hui est 49,7 milliards €UR (55,5 milliards US$, 49,6 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 mars 2009 à 10,03 €UR, et son plus haut niveau récent le 20 mars 2015 à 72,47 €UR. du Pont de Nemours possède 876 409 984 actions en circulation. |