Coles added to top ASX 200 Nov 20

Company News

by Jessica Amir

S&P Global has advised Coles Group is set be added to the ASX200 on 20 November at a zero price.

Subject to final court and shareholder approval Wesfarmers (ASX:WES) will spin-off Coles Group (XASX:COL).

Wesfarmers will spin-off 1 share of Coles Group Limited for every 1 Wesfarmers share held.

Importantly, Coles will get a new spot among the top 200, and will therefore S&P Global will not need to remove a stock in its place, among the S&P/ASX 200.

Wesfarmers shares closed 2.84 per cent lower to $46.14 yesterday.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.