Finance History | 11 Wall Street — ARNC Stopped and HWM Opened
· 2020-4
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Finance History | 11 Wall Street — ARNC Stopped and HWM Opened
kevin
People treat Howmet as a Pittsburgh airfoil shop that always printed HWM after a finished casting book.
The April 2020 issuer was Arconic Inc., renamed Howmet Aerospace Inc. the same morning.
On 1 April 2020 it distributed Arconic Corporation to its holders.
Holders of record on 19 March 2020 received one Arconic Corporation share for every four Arconic Inc. shares.
The rolled-products book left under the letters ARNC.
The remaining engineered-products book kept the listing and opened under the letters HWM.
Both tapes printed on the New York Stock Exchange that session.
The mechanism is a 1-for-4 spin that renamed the parent and split sheet from forgings.
The pin is the Broad Street facade of the Exchange on that opening.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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