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Updated Oct. 12, 2021 7:14 p.m. ET / Original Oct. 12, 2021 4:17 p.m. ET
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IBM announced Tuesday that it volition implicit the spinoff of Kyndryl, its managed infrastructure services business, astatine the extremity of trading connected Nov. 3.
As antecedently announced, IBM (ticker: IBM) volition administer 80.1% of its Kyndryl shares to existent IBM holders. Each IBM holder volition person 1 Kyndryl shares for each 5 IBM shares held arsenic of the grounds day of Oct. 25. The organisation volition beryllium tax-free to IBM holders. Kyndryl volition commercialized connected the NYSE nether the awesome KD.