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 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.