Finance History|11 Wall Street — DWDP Stops and DD Opens After the Reverse Split
· 2019-6
Unreviewed contributionBy kevin · · Report an issue
Find memories left by people near you.
Distribute Bounty
This will distribute the bounty equally among all qualifying memories. This action cannot be undone.
Cancel Bounty
Are you sure you want to cancel this bounty? The remaining amount will be refunded to your account.
Success!
Operation completed successfully.
Error
Something went wrong.
Finance History|11 Wall Street — DWDP Stops and DD Opens After the Reverse Split
kevin
People treat DuPont as a Wilmington specialty-chemicals house that always printed DD.
The June 2019 issuer was still DowDuPont, renamed DuPont de Nemours after the agriculture book left.
A DuPont release dated 3 June 2019 said regular-way trading began that day on the New York Stock Exchange under DD. The company had completed the Corteva distribution on 1 June 2019.
The same release said that immediately after that distribution DuPont completed a 1-for-3 reverse stock split. Holders then held one DuPont common share for every three DowDuPont shares they had owned before the split.
Dow Inc. had already left on 1 April 2019 as a 1-for-3 materials distribution. Corteva left as a 1-for-3 agriculture distribution. What remained was the specialty book, trading under the old DuPont letters.
The mechanism is a two-step split of a merged chemicals conglomerate, finished with a reverse split so the remaining parent did not trade as a stub. No primary shares were sold on 3 June 2019.
The pin is the Broad Street facade of the Exchange, where DD 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.
changes?
delete this memory?
We detected that you have a Blox in your crypto wallet! We will import the Blox into your account.
Click on done below to complete the import.
Welcome Back!
Sign in to preserve cherished moments
Don't have an account?
Welcome!!
Sign up and start preserving cherished moments
?
?
Choose your payment method
Buy with Metablox Credit
Do you want to mint Blox with Metablox Credit?
Which Crypto would you like to use?
Purchase Confirmed!
Your Blox is being minted on-chain and will appear in your profile shortly.
Log in or sign up to claim your Blox.
How many credits do you want to buy?
$100 USD = 1 Metablox Credit = 1 Blox.
Use Metablox Credit to mint any Blox you want on the map.
expand_more