Business

LendingTree spinoff to complete Aug. 21

Internet conglomerate IAC/InterActiveCorp said today its plan to split itself into five parts is set to be completed on Aug. 21, and regular trading of all the companies will start that day.

IAC said it was advised by The Nasdaq Stock Market LLC that “when issued” trading of the new individual companies — home shopping network HSN Inc., time-share business Interval Leisure Group Inc., ticketing service Ticketmaster, Charlotte-based lending and real estate business Tree.com Inc. — will start Tuesday.

HSN will trade as “HSNIV,” Interval as “IILGV,” Ticketmaster as “TKTMV” and Tree.com as “TREEV.”

Shares of IAC, which will retain the company's remaining Internet properties, will also enter “when issued” trading on Tuesday, trading under the symbol “IACIV.” The shares will trade regularly under the current “IACI” symbol as well at that time.

After the spinoffs are completed, HSN, Interval, Tree.com and Ticketmaster will trade regularly as “HSNI,” “IILG,” “TREE” and “TKTM,” respectively.

IAC said that in the 20 trading days after the spinoffs are finished, shares of IAC will trade as “IACID” due to Nasdaq rules. After that, it will trade as “IACI.”

  Comments