Vimeo to begin trading in late May as IAC shareholders OK spinoff
IAC/Interactive Corp. (IAC) said late Friday that Vimeo will begin trading as a public company in late May, following a vote from shareholders to approve a spinoff of the video hosting and streaming site. IAC expects Vimeo to start trading on the Nasdaq under the ticker "VMEO" on May 25. The spinoff is still subject to final approval from IAC's board, the company said. IAC said that Vimeo will trade on the Nasdaq "on a 'when issued' basis" under the ticker "VMEOV" from May 18 to May 24. Earlier in the month, Vimeo was credited with driving accelerated revenue growth (https://www.marketwatch.com/story/vimeo-drives-iac-to-an-earnings-beat-ahead-of-planned-spinoff-11620331550)in IAC's quarterly results. Plans for the spinoff (https://www.marketwatch.com/story/iac-stock-soars-after-plan-to-spin-off-vimeo-as-a-publicly-traded-company-2020-12-22) were first announced in late December.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 15, 2021 15:38 ET (19:38 GMT)
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