Thursday, July 23, 2015
Equity Trader Alert #2015 - 125
Nasdaq Outlines Zillow Group, Inc. Corporate Action/Symbology Details
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Zillow Group, Inc. (NASDAQ:Z) announced a distribution of Class C shares to its stockholders with a dividend record date of July 31, 2015 and a dividend payment date of August 14, 2015. This corporate action will impact trading of Zillow Group, Inc. shares and distribution of market data such that market participants and data vendors must be prepared to trade and disseminate data for the new symbols. Refer to the Frequently Asked Questions document. Symbol Trading Timeline
Key DatesJuly 31 From July 31 through August 14, the following symbols will trade:
After the close of market on August 14, 2015, Nasdaq will review the closing price of the Class C shares (ZCVVV) and determine and announce the adjustment amount for the Class A shares on the EX date of August 17, 2015. On the EX date, August 17th, the closing price of the Class A shares (new symbol ZG) will reflect the adjustment amount. August 17 Effective on the EX date, August 17th, there will be symbol changes:
The details of the distribution are as follows:
An EX distribution when issued market will be established for Zillow Group, Inc. Class A Common Stock. Trades in the EX distribution when issued market will not carry due-bills for the distribution. The details for the EX distribution when issued market are as follows:
A when issued market will be established for Zillow Group, Inc. Class C Common Stock. The first day of “regular way” trading will be August 17, 2015. The symbol will change to Z on that date. The details for the when issued market are as follows:
If you would like to register as a market maker in ZAVVV or ZCVVV, contact Nasdaq Trading Operations at +1 212 231 5100. |
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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.