We want to notify you about International Paper Co’s (IP/IP.) spin-off scheduled for 01/10/2021. It will result in the establishment of Sylvamo Corp as a new legal entity. This corporate event will impact both CFD and physical stock.
JFD will not offer the quoting and trading of Sylvamo Corp’s shares. Hence, all clients who will be holding open positions on International Paper Co’s (IP/IP.)’s stocks at market close on 30/09/2021 will receive the cash equivalent of 1 share of the new symbol at the ratio of 0.09:1 (for each eleven shares, you will receive the cash equivalent of one share of the new symbol (Sylvamo Corp)).
Please note that all clients who hold short positions on the CFD of International Paper Co’s would get a short position in Sylvamo Corp at a price of zero. Once the new positions are allocated, they will be sold at the first available market price and the result will be deducted from clients’ trading account.
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