Materials science business Dow Inc., which also used to be called Dow Holdings Inc., started trading regularly on the New York Stock Exchange on Tuesday under the symbol DOW. It was separated yesterday from DowDuPont Inc. The new Dow took the conglomerate's place in the Dow Jones Industrial Average index. The remainder will be called DuPont Inc. after the spinoff of Corteva on June 1.
For every three shares of DowDuPont, company stockholders received one share of common stock of Dow. Stockholders of record as of the close on March 21 got one share of Dow common stock for every three shares of DowDuPont. The chemical giant was created on August 31, 2017, in a merger of Dow Chemical Co. and DuPont Co.
Dow Inc. surged 7.34% to $55.42 per share at 9:40 am ET right after touching $55.5. It opened at $52.75 on March 20. DowDuPont decreased by a mere 0.05% to $36.57. The Dow Jones benchmark slipped 0.32% and the S&P 500, which has both companies among constituents, moved just 0.1% to the red.
