Indianapolis-based Washington Prime Group Inc. is set to be listed Wednesday on the New York Stock Exchange. Washington Prime is a spin-off of Simon Property Group Inc. (NYSE: SPG). The new company will be listed under the “WPG” symbol and be comprised of strip centers and smaller mall properties.

Last week, S&P Dow Jones Indices LLC announced Washington Prime will be added to the S&P MidCap 400 and the S&P SmallCap 600, bumping two companies currently listed on those indices.

Excerpt From a May 22, 2014 S&P Dow Jones Indices LLC News Release

NEW YORK- Washington Prime Group Inc. will replace UTi Worldwide Inc. (nasd:UTIW) in the S&P MidCap 400, and UTi Worldwide will replace ArQule Inc. (nasd:ARQL) in the S&P SmallCap 600 effective after the close of trading on Wednesday, May 28. S&P 100 & 500 constituent Simon Property Group Inc. SPG +0.43% is spinning off Washington Prime Group to shareholders in a transaction expected to be completed after the close of trading on that date. Post spin, Simon Property Group will remain in the S&P 100 & 500. UTi Worldwide is ranked # 400 in the S&P MidCap 400 and is more appropriate for the S&P SmallCap 600. ArQule is ranked #600 in the S&P SmallCap 600 and is no longer representative of that index.

Sources: Simon Property Group Inc. and S&P Dow Jones Indices LLC

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets on
{{ count_down }}