Conduent Incorporated (NYSE:CNDT) has completed its demerger from Xerox Corp (NYSE:XRX).
The business process services company’s shares will be listed on the New York Stock Exchange today, and the management team has been invited to ring the bell to announce the start of trading.
The company’s services include digital payment solutions, the provision of car parking technologies to local authorities and the processing of child support payments.
"We have already begun laying the groundwork to drive profitable growth through sharpened go-to-market capabilities and greater consistency in applying our automation, analytics, innovation and expertise," said Ashok Vemuri, chief executive officer of Conduent.
"Our significant transformation program will position our new company for long-term success," he claimed.
Under the terms of the spin-off, Xerox shareholders will receive one share in Conduent for every five Xerox shares they held at the close of business on 15 December.