Realogy Selected to Join the Standard & Poor's 500 Index Company set to begin ‘regular-way’ trading and ring opening bell on the New York Stock Exchange
RISMEDIA, July 27, 2006—Realogy Corporation, which as previously announced is expected to be spun off from Cendant Corporation on July 31, 2006, received good news from Standard & Poor's yesterday.
The company learned that its stock will become a member of the S&P 500 Index upon commencement of "regular way" trading on the New York Stock Exchange (NYSE), which is expected to occur on August 1, 2006. Widely regarded as the best single gauge of the U.S. equities market, this world-renowned index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. The S&P 500 represents the U.S. component of the S&P Global 1200.
"Joining the S&P 500 Index is another significant milestone for us as we prepare to complete our spin-off," said Richard A. Smith, vice chairman and president of Realogy. "As a stand-alone publicly traded company, Realogy provides a unique way for investors to participate in the long-term growth of the U.S. existing home sales market without the need to own property."
Realogy will be listed on the NYSE under the ticker symbol "H", for homes. On Aug. 2, the day after "regular way" trading is expected to commence, Chairman & CEO Henry R. Silverman, Smith and Realogy's other executive officers will be on hand for the ceremonial ringing of the NYSE's opening bell.
The "when issued" trading market for the common stock of Realogy began July 19 and is expected to run through July 31. Shares of Realogy will be issued at the close of business on July 31 to Cendant shareholders of record as of July 21. It is anticipated that shareholders will receive one share of Realogy common stock for every four shares of Cendant common stock outstanding as of the record date. |
