Finance History | 11 Wall Street — Twenty-Three Dollars for One Hundred Twenty-Five Million Card Shares Called SYF
· 2014-7
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Finance History | 11 Wall Street — Twenty-Three Dollars for One Hundred Twenty-Five Million Card Shares Called SYF
kevin
People treat Synchrony as a Stamford card house that always printed SYF after a finished New York book.
The first cash offering was a partial sale of a GE consumer-finance unit.
A company Form 8-K dated 5 August 2014 records that Synchrony Financial closed an initial public offering of 125,000,000 common shares at 23.00 dollars a share in 2014 currency.
Contemporaneous offering coverage records that the book began trading on the New York Stock Exchange on 31 July 2014 under the ticker SYF, with General Electric still holding about 85 percent after the sale.
The present tape is still SYF on the New York Stock Exchange.
The mechanism is a cash offering that left a parent majority intact, not a complete spin that emptied GE's book on the first print.
The pin is the Broad Street facade of the Exchange, where SYF opened.
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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