Finance History|11 Wall Street — One Allegion Share for Every Three Ingersoll Rand Shares
· 2013-12
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Finance History|11 Wall Street — One Allegion Share for Every Three Ingersoll Rand Shares
kevin
People treat Allegion as a Dublin lock-and-door house that always printed ALLE on a New York tape.
The letters arrived as a tax-free slice of an older industrial book.
Ingersoll-Rand plc announced the record and distribution dates on 11 November 2013. Shareholders of record at the close on 22 November received one Allegion ordinary share for every three Ingersoll Rand ordinary shares.
The company's own release dated the distribution to 1 December 2013. Fractional shares were sold in the market and the cash sent ratably.
A later cost-basis statement recorded that about 96 million Allegion ordinary shares were issued in that distribution.
Regular-way trading on the New York Stock Exchange under the letters ALLE began on 2 December 2013. When-issued prints had already appeared under ALLE WI from about 18 November.
The same company release described a security book of about 2 billion U.S. dollars a year, with brands that included Schlage, Von Duprin, LCN and CISA, and more than 7,600 people.
The leftover Ingersoll Rand book kept climate and industrial equipment. Allegion took the door.
The pin is the Broad Street facade of the exchange that took the spin. The trading floor is not a visitor gallery.
The mechanism is a tax-free industrial split that turned an internal security division into quoted ordinary shares without an offering price.
Photo: New York Stock Exchange, via the collection photograph already ingested for Big Board listings.
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