It’s almost here. SPX Corporation (SPW) is set to complete the spinoff of SPX FLOW (FLOW-wi) this weekend and the new company will start trading under the ticker ‘FLOW’ on Monday. Shareholders will receive 1 share of FLOW for every SPW share owned and after the spin off, the parent company will change its ticker to ‘SPXC’. Sounds like a better fit. Additionally, post-spin, both companies are expected to trade in the S&P Smallcap 600 index:
SPX FLOW Inc. (NYSE:FLOWwi) will replace Christopher & Banks Corp. (NYSE:CBK) in the S&P SmallCap 600 after the close of trading on Friday, September 25. New S&P SmallCap 600 constituent SPX Corp. (NYSE:SPW) is spinning off SPX FLOW to shareholders in a deal expected to be completed on or about that date. Christopher & Banks is ranked near the bottom of the S&P SmallCap 600 and is no longer appropriate for that index.
Ultimately, no index movement or changes here, but it’s always worth noting what happens on this front.
Disclosure: Author holds no position in any stock mentioned.