India, March 22 -- Swiss drug major Novartis AG (NVS) confirmed that certain important conditions precedent for the 100% spin-off of the Alcon eye care business have been met, including receipt of certain necessary authorizations and rulings.
Completion of the transaction, by way of a distribution of a dividend in kind to Novartis shareholders and American Depositary Receipt holders, is expected to be on April 9.
In the distribution, each Novartis shareholder will receive 1 Alcon share for every 5 Novartis shares/ADRs they hold on April 8, 2019, close of business.
Alcon Inc. has received approval to list its shares on the SIX Swiss Exchange and the New York Stock Exchange.
Shares in Alcon Inc. are expected to be listed and traded from A...