A Re-organization in the S&P/TSX Composite
Index
TORONTO, May 27, 2015 /CNW/ - S&P Dow Jones
Canadian Index Services will make the following changes in the
S&P/TSX Canadian Indices:
FirstService Corporation (TSX:FSV) has completed a corporate
reorganization whereby the company will separate itself into two
independent publicly traded companies. Effective at the open of
trading on Tuesday, June 2, 2015,
FirstService Corporation will change its name to Colliers
International Group Inc. (TSX:CIG) which will retain the commercial
real estate services assets of the company.
Concurrently, the company will spin off, on a 1-for-1 basis,
shares in a new company that will retain the name FirstService
Corporation and will have the new ticker symbol NFS. This new
FirstService Corporation will retain the company's assets related
to residential property management. The spun out shares of the new
FirstService Corporation will be added to all the S&P/TSX
indices where the current manifestation of FirstService is a
constituent after the close on Monday, June
1, 2015.
Both the new FirstService Corporation and Colliers International
Group Inc. will trade on TSX on an ex-distribution basis starting
Wednesday, May 27, 2015. The close
price of the current FirstService Corporation on Monday, June 1, 2015, will be reduced by the
ex-distribution price of new FirstService (NFS) at the close that
day.
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