- Dow began trading on the Down Jones Industrial Average on Tuesday after being spun off from parent DowDuPont.
- The 120-year-old company is listed on the New York Stock Exchange.
- Watch Dow trade live.
The 120-year-old Dow will join the Dow Jones Industrial Average as an independent company after re-listing on the New York Stock Exchange on Tuesday.
The company was spun off from parent DowDuPont, which it had joined after the firms’ $US120 billion merger in 2017. DowDuPont shareholders will receive one share of Dow for every three shares of DowDuPont owned.
Dow is a streamlined version of its former self, focusing solely on chemical and material sciences such as ethylene, propylene, and silicone. It will be a leader across the industry’s segments of packaging, infrastructure, and consumer-focused businesses. Several of Dow’s pre-merger subsidiaries such as Dow Automotive Systems and Dow Electronic Materials have remained with DowDuPont.
“Today marks the beginning of a new and exciting chapter for Dow,” said Jim Fitterling, CEO of Dow, in a statement.
“The changes we have made to Dow’s portfolio, cost structure and mindset are significant. The new Dow is a more focused and streamlined company with a clear playbook to deliver long-term earnings growth and value creation for all stakeholders.”
A second business, Corteva Agriscience, will also become a separate company in June. Corteva will focus on pesticides and agricultural products while DowDuPont will remain as a specialty chemical company.
Dow was up more than 4% in early trading.
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