Reportedly, the board of International Business Machines Corporation (IBM) has approved the previously announced separation of Kyndryl, the company’s managed infrastructure services business. The IBM board of directors declared a pro-rata distribution to IBM stockholders of 80.1 percent of the outstanding shares of Kyndryl. The record date for the distribution of Kyndryl shares will be October 25, 2021.
Each common stockholder of IBM will receive one share of Kyndryl stock for every five shares of IBM stock held on October 25, 2021. The distribution is expected to occur after the closing of the market on November 3, 2021. The company is to retain 19.9 percent of the shares of Kyndryl common stock.
Dow 30 component International Business Machines Corporation (IBM) provides information technology (IT) products and services worldwide. To learn more about International Business Machines Corp (IBM) and to track its ongoing progress please visit the Vista Partners IBM Coverage Page.
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