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Alcon Files Initial Registration Statement With SEC For Proposed Spin-off


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(RTTNews.com) - Novartis (NVS) announced that Alcon has filed an initial Form 20-F registration statement with the US Securities and Exchange Commission in relation to the previously-announced intention of Novartis to spin off its eye care division as an independent, publicly-traded company. An application will be made to list the shares in Alcon on the SIX Swiss Exchange and the New York Stock Exchange under the ticker symbol "ALC".

The initial Form 20-F outlines plans for a tax neutral 100% spinoff of Alcon and includes a detailed overview of its business, strategy, financials, competitive strengths and certain risk factors relating to Alcon's business and the spinoff.

Alcon leadership will focus on these, among other topics, at Capital Markets Days for investors and analysts in New York on November 27, 2018 and in London on December 4, 2018.

Completion of the planned spinoff is subject to general market conditions, receipt of necessary authorizations, tax rulings and opinions, final endorsement by the Board of Directors of Novartis and shareholder approval at the 2019 Novartis annual shareholder meeting. If approvals are secured and conditions are met, the spinoff is expected to be completed in the first half of 2019.


Read the original article on RTTNews (http://www.rttnews.com/2954860/alcon-files-initial-registration-statement-with-sec-for-proposed-spin-off.aspx)


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This article appears in: World Markets , Stocks



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