S&P Dow Jones Indices Announces Changes to the S&P/TSX Canadian Indices
21 Nov, 2017, 17:15 ET
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.
For more information about S&P Dow Jones Indices, please visit www.spdji.com
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1,000,000 indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
SOURCE S&P Dow Jones Indices LLC.
For further information: S&P Dow Jones Indices, [email protected]; Tony North, Director, Canadian Index Operations, Toronto, Ontario, (+1) 416 507 3204, [email protected]; David BlitzerManaging Director and Chairman of the Index Committee, New York, USA, (+1) 212 438 3907, [email protected]
Share this article