L Brands Inc. LB, +4.75% has gotten committee support for the separation of the institution into 2 publically traded businesses. The institution antecedently announced that Victoria's Secret & Co. volition see the namesake underwear brand, Pink and Victoria's Secret Beauty. That institution volition commercialized nether the ticker "VSCO." The different concern volition beryllium Bath & Body Works Inc., and starting connected August 3 L Brands volition commercialized nether the ticker "BBWI." The organisation of Victoria's Secret shares volition beryllium implicit aft the marketplace closes connected August 2. L Brands stockholders volition get 1 stock of Victoria's Secret communal banal for each 3 shares of L Brands communal banal held astatine the adjacent of concern connected July 22, 2021. L Brands stockholders volition not person to instrumentality enactment to person Victoria's Secret shares. L Brands shares were up 4.6% successful Monday trading and person much than doubled, up 106.4%, for the twelvemonth to date. The S&P 500 scale SPX, +0.19% has gained 16.6% for 2021 truthful far.
Victoria's Secret parent L Brands will change its ticker to 'BBWI' starting August 3
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