Finance History | 11 Wall Street — One ITT Share Became One Hartford Share
· 1995-12
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Finance History | 11 Wall Street — One ITT Share Became One Hartford Share
kevin
People treat The Hartford as a Connecticut insurer that always printed HIG after a finished mutual book.
The December 1995 issuer was ITT Hartford Group, Inc.
On 19 December 1995 ITT Corporation distributed one share of ITT Hartford and one share of the new hospitality company for each old ITT common share.
Regular trading in the insurance book opened on the New York Stock Exchange on 20 December 1995.
When-issued trading on 15 December 1995 closed at a bid of 49.75 dollars in 1995 currency.
The letters later settled as HIG.
The mechanism is a tax-free three-way split of a conglomerate, not a cash IPO.
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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