Spin Off (SOFF)
SFTR Report - NEWT | Corporate Action Cluster - Addition Sec on Loan | Cash Move - Y
Spin off. A distribution of subsidiary stock to the shareholders of the parent company without a surrender of shares. Spin off represents a form of divestiture resulting in an independent company. E.g. demerger, distribution, unbundling.
When booking a Spin Off a new contract should be created to cover the additional distribution of shares. (COAC-41)
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