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Article: Canada: EnCana s spin-off begins conditional trading.

Article from:
TendersInfo
Article date:
November 3, 2009
Copyright

Byline: manish03

EnCana Corp. s fast-track to a corporate split means integrated oil company Cenovus Energy Inc. and pure-play natural gas company EnCana Corp. (GasCo) will begin trading on an if, as and when issue basis when the market opens on Monday.

EnCana s split will not formally close until after the shareholder vote slated on Nov. 25, with the agreement to become effective Nov. 30. However, the new entities will trade both on the TSX and NYSE today. This reflects the exchanges confidence in the plan receiving approval. Cenovus and EnCana (GasCo) are expected to officially trade as separate entities on Dec 3. on the TSX and Dec 9. on the NYSE.

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