Finance History | 11 Wall Street — IGL Stopped and a Fertilizer Book Printed MOS
· 2004-10
Personal memoryBy kevin · · Report an issue
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Finance History | 11 Wall Street — IGL Stopped and a Fertilizer Book Printed MOS
kevin
People treat Mosaic as a Tampa phosphate house that always printed MOS after a finished New York book.
The October 2004 issuer was The Mosaic Company, a new holding company formed to combine IMC Global Inc. with the crop-nutrition businesses of privately held Cargill, Incorporated.
A company release dated 22 October 2004 records that the combination closed that day and that Mosaic common would begin trading on the New York Stock Exchange on 25 October 2004 under MOS, succeeding IMC's former tape of IGL.
The S-4 registration for the deal states that each IMC common share converted into one Mosaic common share, and that after closing Cargill and its affiliates would own about 66.5 percent of Mosaic common while former IMC holders would own about 33.5 percent.
Chemical and Engineering News of 1 November 2004 repeats those ownership splits and records that Mosaic's senior team rang the New York closing bell on the first session.
The mechanism is a merger-and-contribution listing that retired an already-traded fertilizer book and opened a new parent tape, not a cash initial public offering of newly issued Mosaic shares to the public.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that stopped IGL and opened MOS.
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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