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Finance History | 11 Wall Street — Eight Tenths of an NDC Share Become GPN
· 2001-2
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Finance History | 11 Wall Street — Eight Tenths of an NDC Share Become GPN
kevin
People treat Global Payments as an Atlanta card shop that always printed GPN after a finished merchant book.
The January 2001 issuer was Global Payments Inc., formed on 1 September 2000 to hold National Data Corporation's eCommerce segment.
On 31 January 2001 NDC distributed 26,430,192 Global Payments shares to NDC holders of record as of 19 January 2001.
The ratio was 0.8 Global Payments share for each NDC share.
The letters GPN opened on the New York Stock Exchange on 1 February 2001.
No cash left the company that morning. The parent handed the book to its own holders.
The mechanism is a spin-off listing that separated a payment processor from a health-information parent.
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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