EBay’s spinoff of its payments business PayPal is scheduled to be completed on July 17, the company announced today, with PayPal beginning regular trading on the Nasdaq Stock Market on July 20. EBay shareholders will receive one share of PayPal for every share of eBay they own. EBay, excluding the PayPal business, registered 10 percent more revenue than PayPal in 2014, but PayPal’s top line is growing much more quickly. PayPal was briefly a publicly traded company after going public in 2002, but eBay acquired it that same year.
This article originally appeared on Recode.net.
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