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Prague bourse to suspend O2 CR on May 28-29 pending spin-off
May 15, 2015 / 3:11 PM / 3 years ago

Prague bourse to suspend O2 CR on May 28-29 pending spin-off

PRAGUE, May 15 (Reuters) - Trading in shares of O2 Czech Republic will be suspended on May 28-29 ahead of a spin-off of the fixed and mobile operator’s infrastructure business into a separate company on June 1, the Prague Stock Exchange (PSE) said on Friday.

O2 has approved the spin-off of the assets into a new firm called CETIN.

Shares in CETIN have been valued at 150 crowns ahead of the split, and the price of the remaining O2 is expected to drop by a roughly corresponding value after the split.

Shareholders of O2 CR prior to the split will get one share in CETIN in addition to each share they hold in O2 CR.

Shares in the residual O2 will again trade from June 1.

CETIN will not be traded on regulated markets but the PSE said it may admit the stock to its unregulated Free Market.

Shares in O2, still trading with rights to the CETIN share, closed at 180 crowns on Friday, up 5 percent on the day. (Reporting by Jan Lopatka)

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