National Oilwell Varco recently announced the Securities and Exchange Commission has declared effective NOW Inc.’s registration statement on the Form 10 filed in connection with the spinoff of NOV’s distribution business. NOV also announced NOW has been authorized to list on the New York Stock Exchange. NOW common stock will trade on the NYSE under the symbol DNOW.
The spin-off will be completed by way of a pro rata distribution of NOW common stock to holders of NOV common stock.
NOW operates primarily under the DistributionNOW and Wilson Export brands and stocks and sells energy products, as well as products for industrial applications. NOW also provides supply-chain management solutions to energy and industrial manufacturing companies around the world.