H-P Board Green Lights Split

Reuters

Hewlett-Packard Co said its board on Wednesday approved the previously announced split of the company into two separate entities - Hewlett Packard Enterprise Co and HP Inc.

Continue Reading Below

The company said the separation is expected to be completed on Nov. 1, a day after which Hewlett Packard Enterprise will start trading on the New York Stock Exchange under the ticker symbol "HPE".

Hewlett-Packard Co will be renamed HP Inc and continue to trade on the NYSE under the ticker symbol "HPQ".

Hewlett-Packard said the separation will occur by means of a pro rata distribution in which each HP shareholder will get one share of Hewlett Packard Enterprise for each HP share held as of Oct. 21.

HP said it expects Hewlett Packard Enterprise to start trading on a "when issued" basis on or about Oct. 19 under the ticker symbol "HPE WI".

(Reporting by Lehar Maan in Bengaluru; Editing by Saumyadeb Chakrabarty and Savio D'Souza)

What do you think?

Click the button below to comment on this article.