Finance History|11 Wall Street — One HII Share for Every Six Northrop Shares
· 2011-3
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Finance History|11 Wall Street — One HII Share for Every Six Northrop Shares
kevin
People treat Huntington Ingalls as a Newport News yard that always printed HII after a finished hull book.
The March 2011 issuer was Huntington Ingalls Industries, Inc., separated from Northrop Grumman Corporation.
Stockholders of record on 30 March 2011 received one HII share for every six Northrop Grumman shares.
The distribution closed on 31 March 2011.
The letters HII opened regular-way on the New York Stock Exchange that morning.
The session opened at 38.45 dollars and closed at 41.50 dollars in 2011 currency, on about 2.65 million shares.
When-issued trading the day before had closed at 38.20 dollars.
The mechanism is a 1-for-6 spin that took shipbuilding off the Northrop tape.
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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