We want to notify you about AT&T’s spin-off scheduled for the 11th of April 2022. It will result in the establishment of Magallanes as a new legal entity. This corporate event will impact both CFD (T) and physical stock (T.).
JFD will not offer the quoting and trading of the newly established company. Hence, all clients who have had open positions on AT&T when the market has closed on 08/04/2022 will receive the cash equivalent of one share of the newly created entity at the ratio of 1:0.24. Thus for every 25 stocks held in the existing company, they will receive the cash equivalent of 6 shares of the newly created enterprise.
Important - all clients who have held short positions in AT&T`s CFD will receive a short position in Magallanes with an open price of zero. Once the new shares are allocated, the trades will be closed at the first available market price. The final amount will be deducted from the clients’ trading accounts.
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