By Stephen Nakrosis 
 

Kyndryl Holdings Inc., which is being spun off from International Business Machines Corp. will join the S&P MidCap 400 before the opening of trading on Nov. 5, S&P Dow Jones Indices said Monday.

Kyndryl is being spun off from IBM's IT infrastructure services and will become an independent company. S&P Dow Jones Indices said the transaction is expected to be completed Nov. 4.

Kyndryl will replace NetScout Systems Inc. which will move to the S&P SmallCap 600, S&P Dow Jones Indices said. NetScout will replace Invacare Corp., which is "no longer representative of the small-cap market space," according to S&P Dow Jones Indices.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

November 01, 2021 18:36 ET (22:36 GMT)

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