General Electric Board Approves Spin-off Of GE Vernova

(RTTNews) - General Electric Co. (GE) said that its board approved spin-off of GE Vernova. The company is expected to begin trading on the New York Stock Exchange on April 2, 2024, under the ticker symbol "GEV".

GE's Board approved a distribution to GE shareholders of all shares of GE Vernova's common stock. Holders of GE common stock will be entitled to receive one share of GE Vernova common stock for every four shares of GE common stock held on March 19, 2024, the record date for the distribution. The distribution is expected to occur before U.S. market open on April 2, 2024.

Following completion of the planned spin-off, GE will operate as GE Aerospace. GE shareholders will continue to hold their shares of GE common stock with the company name GE Aerospace, and GE Aerospace will continue GE's listing on the NYSE under the ticker symbol "GE."

GE anticipates that "when-issued" trading in GE Vernova common stock on the NYSE will begin on or about March 27, 2024, under the symbol "GEV WI," and GE Vernova common stock will begin "regular-way" trading on the NYSE on the distribution date, April 2, 2024, under the symbol "GEV."