A Spinout in the S&P/TSX Global Mining Index
TORONTO, May 8, 2015 /CNW/ - S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
The following 2 stocks:
- BBL.N – BHP Billiton Plc ADR – CUSIP 05545E 20 9 – 1,056,036,000 shares
- BHP.N – BHP Billiton Ltd. ADR – CUSIP 088606 10 8 – 1,604,591,000 shares
Are currently constituents of the following S&P/TSX indices:
- S&P/TSX Global Mining Index
- S&P/TSX Global Base Metals Index
- S&P/TSX Equal Weight Global Base Metals Index
Under the dual-listed structure of BHP, the company will distribute, on a 0.4-for-1 basis, shares of South32 Ltd., an Australian-incorporated company holding various assets. Index shareholders of both ADR's (BBL.N and BHP.N) will receive a total of 1,064,250,800 shares of South32.
These distributed shares of South32 will be added at zero price to the above 3 indices after the close of trading on Friday, May 15, 2015. No divisor change will result from this action in any of the indices. The shares of South32 will only be listed on the OTC market and are therefore not eligible to remain in these indices. Since Monday, May 18, 2015, is a market holiday in Canada, the shares of South32 will be removed from these indices after the close on Tuesday, May 19, 2015. New divisors will be generated as a result of this removal of South32.
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