Corporate Spin-off
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Carljh
Member Posts: 67 ✭✭
Wesfarmers have set up Coles as a separate security giving share holders the same number of shares in the new company. Not being a financial genius, I always find these sort of transactions very difficult. I am assuming I enter this as a Corporate Spin-off. Using the template to do this, it asks for the company name which I have entered as Wesfarmers and then the new company name which I have entered as Coles (it does not ask you to set it up as a new security). It then asks the number of shares, cost of old share and cost of new share. I think I am on the right track as adding the 2 figures together comes to exactly the amount of the Bulk Redemption Upload Price. My problem is that when I click done, it says that the security name is already in use, choose a new one. Grateful for any help with this.
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