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Google is planning to introduce a new series of nonvoting Class C shares.
On March 27, the Class C shares will be available to trade on a when issued basis with the symbol GOOCV. Class A shares on an EX Distribution will be available to trade on a when issued basis using the symbol GOOAV. Regular Class A shares will continue to trade under the symbol GOOG.
On April 2, 2014, Google will pay a dividend (to existing shareholders) in the form of the new nonvoting Class C shares.
On April 3, Class A shares will undergo a symbol change from GOOG to GOOGL. The symbol for Class C shares will change from GOOCV to GOOG. Historical data will be moved to the new symbols. GOOAV will be suspended since the Class A stock is EX on this date.
Please see the following for additional reference:
http://nasdaqtrader.com/content/GOOGfaqs.pdf
From the exchange PDF:
What should we expect to see as the ratio of shares? The issuance is one share of Class C for every Class A held. The industry expects that the impact to the price on the EX date will be similar to a two-for-one split.
Thank you,
Ray P.
eSignal Support
On March 27, the Class C shares will be available to trade on a when issued basis with the symbol GOOCV. Class A shares on an EX Distribution will be available to trade on a when issued basis using the symbol GOOAV. Regular Class A shares will continue to trade under the symbol GOOG.
On April 2, 2014, Google will pay a dividend (to existing shareholders) in the form of the new nonvoting Class C shares.
On April 3, Class A shares will undergo a symbol change from GOOG to GOOGL. The symbol for Class C shares will change from GOOCV to GOOG. Historical data will be moved to the new symbols. GOOAV will be suspended since the Class A stock is EX on this date.
Please see the following for additional reference:
http://nasdaqtrader.com/content/GOOGfaqs.pdf
From the exchange PDF:
What should we expect to see as the ratio of shares? The issuance is one share of Class C for every Class A held. The industry expects that the impact to the price on the EX date will be similar to a two-for-one split.
Thank you,
Ray P.
eSignal Support
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