Solventum Corp rises in market debut after 3M spin-off

Solventum

01/04/2024 13:23

** Solventum's  SOLV.N  shares rise 1.8% to $70.80 premarket
    ** Industrial conglomerate 3M  MMM.N  completed planned
spin-off of its healthcare business Solventum
    ** Launches Solventum Corp as an independent company, listed
on the New York Stock Exchange
    ** 3M's shares rise 3% to $91.37 premarket
    ** 3M shareholders received one share of SOLV for every four
shares of MMM held at the close of business on March 18, 2024
    ** 3M retained 19.9% of SOLV outstanding shares, which will
be monetized within five years following the spin-off
    ** YTD, MMM stock had fallen ~19% 

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))