Investors of the group were informed of key dates for the remaining procedures for GiG to conclude the split of its Media and Platform businesses into separate entities.
The last day of trading for GiG shares with the right to receive NDRs is 23 September. The ex-date, when shares will no longer entitle holders to NDRs, is 24 September.
The record date for determining eligible shareholders is 25 September, and the distribution date is set for around 30 September.
Investors holding GiG shares on NASDAQ Stockholm will receive one Swedish Depository Receipt (SDR) per share held.
In an official statement, the company said: “Third-party analyses suggest GiG Platform may be valued at 14% of GiG’s total value before the spinoff, but this is not a guarantee of its market capitalisation once trading begins.”
The strategic split of GiG’s Media and Platform businesses was initially proposed in February 2023 as a directive to reward shareholders and improve the value of the firm’s assets as standalone businesses.
In June, GiG announced that its Media unit had completed its reorganisation, changing its business identity to Gentoo Media. The standalone media business is led by CEO Jonas Warrer and Chairman Mikael Harstad.
Source: GMB
