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BGC Partners ti distribute Newmark shares to shareholders

Nov. 13, 2018 8:55 AM ETBGC Group, Inc. (BGC) StockBy: Liz Kiesche, SA News Editor55 Comments
  • BGC Partners' (NASDAQ:BGCP) board approves distributing all of its shares in Newmark Group (NMRK) to stockholders of BGC.
  • The distribution will take place through a special pro rata stock dividend.
  • Stockholders of BGCP class A common stock well get about 0.4613 of a share of Newmark class A common stock per share of BGC Partners class A common stock held as of record date.
  • Spinoff to be effective as of 12:01AM ET on Nov. 30, 2018 to BGC Partners stockholders of record at close of business on Nov. 23, 2018.
  • Previously: Newmark Group closes $550M note offering (Nov. 6)

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