A Spinout in the S&P/TSX Global Mining Index
TORONTO, Nov. 21, 2017 /CNW/ - S&P Dow Jones Indices Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
CONSOL Energy Inc. (NYSE: CNX) has announced a plan to spin out its coal business on a 1-for-8 basis to a new company named CONSOL Mining Corp. The spinout company will be added to the S&P/TSX Global Mining Index effective at the open of trading on Wednesday, November 29, 2017, at zero price. The stock is expected to start regular trading at that time under the NYSE ticker symbol CEIX.
At the open of trading on Wednesday, November 29, 2017, the parent company CONSOL Energy Inc. will change its name to CNX Resources Corp. and the stock will continue to trade under the NYSE ticker symbol CNX. The GICS of this company will change to 10102020 – Oil & Gas Exploration & Production – effective at the open the next day, Thursday, November 30, 2017.
Also effective at the open of Wednesday, November 29, 2017, the spinout company will change its name to CONSOL Energy Inc. This company will assume the GICS of the original parent – 10102050 – Coal & Consumable Fuels effective at the open of Thursday, November 30, 2017.
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