Spin-off
The creation of a new company out of part of a business, whose shares are distributed to the holders of the original one.
How to read the number
Two lines appear on the account where there was one, the combined stake in the business is unchanged, and the point of the exercise is that the market values the parts separately.
When the metric lies
The new share does not enter quotation lists and indices immediately, and funds whose mandate does not fit it tend to sell shortly after it is credited.
Also known as: spin-off