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Osram shares are -2.3% on their trading debut in Frankfurt after Siemens (SI) spun off 80.5% of...

Osram shares are -2.3% on their trading debut in Frankfurt after Siemens (SI) spun off 80.5% of the lighting company. Stockholders received one Osram shares for every 10 they owned in Siemens, although holders of the latter's ADRs couldn't keep the Osram stock as depositary banks had to sell the new securities and give the proceeds to the owners. Siemens ADRs +3.8% premarket, possibly because of the effect of the spin-off.
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