Data: LBTYA, LBTYB, LBTYK (Liberty Media)
Author: Cone
Creation Date: 3/4/2014 11:17 AM
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Cone

#1
Does anyone have information about what happened to LBTYA today? It must have been a divestiture since I can't find anything about a 2:1 split, but there aren't any press releases about it on their site.
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Cone

#2
stockcharts.com historical adjustments is showing a 2-1 split for both LBTYA and LBTYK

This press release on cboe.com indicates a stock dividend, which pays 1 share of LBTYK for each share of LBTYA.

Furthermore Y! Finance is now showing a 2-1 split for LBTYK, only.

What a mess. And what's the diffference between the A, B, and C shares? Voting rights. Per the Liberty Media site:

QUOTE:
LBTYA
Liberty Global Class A
Ordinary Shares: 1 vote per share
Outstanding shares: 221,609,458

LBTYB
Liberty Global Class B
Ordinary Shares: 10 votes per share
Outstanding shares: 10,174,295

LBTYK
Liberty Global Class C
Ordinary Shares: No voting power*
Outstanding shares: 163,324,432

* Except as required under English law.


Since LBTYA and LBTYK trade at slightly different prices (LBTYA historically trades at about a 5% premium), a 2-1 split for LBTYA will be only an approximately correct adjustment for the DataSeries. A more accurate estimation for an adjustment could go like this:

a. Split-adjusted LBTYK gapped up from the 3/3/2014 close of 41.545 to the 3/4/2014 open 42.31 by 1.84%
b. Adjusting LBTYA's 3/4/2014 open of 44.15 by 1.84% yields 43.337.
c. The LBTYA "split" adjustment to account for the LBTYK share dividend, then would be the LBTYA 3/3/2014 close of 84.92 divided by 43.337 = 1.9595.

Consequently, you would process a split adjustment for 3/3/2014, using a split basis of 19595 for 10000

Note!
If you make this manual adjustment for LBTYA, you may have to refresh the series and repeat the adjustment for the next several days following an update since providers will "auto (un)correct" the last several bars with the unadjusted LBTYA prices.
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