Dallas-based Kimberly-Clark Corp. has announced details regarding a spinoff of its healthcare business, Halyard Health. As of the close of trading on Oct. 23, shareholders will receive one share of Halyard Health for every eight shares of Kimberly-Clark common stock held.
The new company has applied to list its shares on the New York Stock Exchange under the ticker symbol “HYH.” HYH stock is expected to begin trading after the opening bell on Nov. 3, which is also the first day after the spinoff goes into effect.
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