Novartis plans for Alcon spin-off on April 9, 2019
- Alcon obtained approval for listing on SIX Swiss Exchange and New York Stock Exchange
- Alcon will seek effectiveness of Form 20-F registration statement from the US Securities and Exchange Commission
- Alcon will enter key Swiss SMI? and SPI? indices on first trading day
- Alcon's credit rating confirmed as investment grade (Baa2 by Moody's Investor Service and BBB by S&P Global Ratings) in line with medtech peer group
- Alcon has secured debt financing of USD 3.5 billion
Date | Event |
February 28, 2019 | Approval of the planned 100% spin-off of Alcon eye care business at the Annual General Meeting of shareholders of Novartis AG |
March 29, 2019 | Last day for conversion of ADRs into Novartis shares (and vice versa) |
April 1, 2019 | ADR record date |
April 8, 2019 | Cum-dividend date (last day of trading Novartis shares and ADRs including right to receive Alcon shares) |
April 8, 2019, close of business | Distribution of Alcon shares to Novartis ADR holders (payment date for ADR holders)[2] |
April 9, 2019 | Ex-dividend date (first day of trading Novartis shares and ADRs excluding the right to receive Alcon shares) Listing and first day of trading of Alcon shares on the SIX (9.00am CET) and the NYSE (9:30am EST) Inclusion of Alcon in the SMI? and SPI? Indices |
April 9, 2019 or shortly after[3] | Credit of Alcon shares to Novartis shareholders by their bank or broker |
April 11, 2019 | First day ADR holders may again convert their Novartis ADRs into Novartis ordinary shares (and vice-versa) |
On or around April 23, 2019 | Distribution of net cash proceeds for fractions of shares[4] |