Finance History | 11 Wall Street — Five Point One Shares and a Jersey Holdco Reach the Tape

People treat Amcor as a Zurich packaging group and a dual listing.

The New York line was opened by a scheme that folded an Australian paper heir into a Missouri bag maker.

On 11 June 2019 Amcor plc completed the combination with Bemis Company, Inc.

Bemis common stock stopped trading on the NYSE under BMS before the opening bell. Amcor plc ordinary shares began trading under AMCR the same day.

Each Bemis share became 5.1 Amcor plc shares. Each old Amcor Limited share became one Amcor plc share or one CHESS Depositary Interest in Sydney.

The new parent was a Jersey company. That structure let the same equity print in New York and remain in the S and P / ASX 200 universe in Australia.

The August 2018 agreement had valued the exchange at 57.75 dollars per Bemis share, based on Amcor's then Australian price, a 25 percent premium to Bemis's close of 46.31 dollars on 2 August 2018.

Combined sales in the prior year were more than 13.4 billion dollars. The press statement put the group at about 245 sites in more than 40 countries.

Samuel Ramsden's Yarra mill of the 1860s and Judson Moss Bemis's St. Louis bag shop of 1858 sit behind those figures. The listing day is the moment the two books became one ticker an American index would hold.

The pin is the Broad Street facade of the Exchange. The floor is not visitable from the street.

A cross-border merger needs a parent that both exchanges will quote. Jersey paper was the device that let a Melbourne packaging group enter the S and P 500 without abandoning Sydney.

Photo: Arild Vågen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange, Broad Street facade.