IAC Split Will Occur August 21; 'When-Issued' Trading Begins Tomorrow

Ask.com parent company IAC announced last November that they would spin off four of their properties and become 5 separate companies. The other four companies will be HSN, Inc., Interval Leisure Group, Inc., Ticketmaster and Tree.com, Inc.

Now, Reuters is reporting the split will occur on August 21.

Meanwhile, the NASDAQ has advised IAC that 'when-issued' trading will begin for the five companies tomorrow at the opening bell. NASDAQ defines 'when-issued' trading as this:

"A trade is done on a "when-issued" basis because there are no physical certificates available evidencing the securities being traded, therefore a delivery date cannot be determined at the time of execution."
IAC recently posted a 7% growth for the second quarter of 2008.