Novartis: Alcon shares to be listed on 9 April
(CercleFinance.com) - Shares in Novartis' eye care unit Alcon are scheduled to be listed on the Swiss market and the NYSE on 9 April, the very same day as its official spin-off, the drugmaker said on Friday.
Novartis today confirmed that several important conditions for the division's full spin-off have been met, including receipt of necessary authorisations and rulings.
The transaction is expected to be completed on 9 April, the group said.
In the process, each Novartis shareholder will receive one Alcon share for every five Novartis shares/ADRs they hold at close of business on 8 April.
Novartis said that in the meantime, Alcon has secured debt financing of 3.5 billion dollars through a consortium of banks, before standing on its own two feet.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Novartis today confirmed that several important conditions for the division's full spin-off have been met, including receipt of necessary authorisations and rulings.
The transaction is expected to be completed on 9 April, the group said.
In the process, each Novartis shareholder will receive one Alcon share for every five Novartis shares/ADRs they hold at close of business on 8 April.
Novartis said that in the meantime, Alcon has secured debt financing of 3.5 billion dollars through a consortium of banks, before standing on its own two feet.
Copyright (c) 2019 CercleFinance.com. All rights reserved.