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Upcoming spin-off by International Business Machines Corp

We want to notify you about International Business Machines Corp’s (IBM/IBM.) spin-off scheduled for 04/11/2021. It will result in the establishment of Kyndryl Holdings Inc. as a new legal entity. This corporate event will impact both CFD and physical stock.

JFD will not offer the quoting and trading of the newly established company. Hence, all clients who have held long positions on International Business Machines Corp. when the market has closed on 22/10/2021 will receive the cash equivalent of 1 share of the newly created entity at the ratio of 0.2:1. Thus for every five shares of the IBM company, they will receive the cash equivalent of one share of Kyndryl Holdings Inc.

Important - all clients who have held short positions on the CFD of International Business Machines Corp will receive a short position in Kyndryl Holdings Inc. for the price of zero. Once the new shares are allocated, they will be sold at the first available market price and the final amount will be deducted from clients’ trading account.

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