Illumina rises after board approves Grail spin-off

Illumina

03/06/2024 23:24

** Shares of Illumina  ILMN.O  rise ~4% to $107.50 in
extended trading after announcing its board has approved the
spin-off of cancer test maker Grail 
    ** ILMN says Grail has applied to list on the Nasdaq under
the ticker symbol 'GRAL'
    ** Co expects to complete the spin-off on June 24 
    ** ILMN shareholders to receive one share of Grail common
stock for every six shares of Illumina common stock held at the
close of business on June 13
    ** As of last close, stock down ~26% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))