Re: Company Purchased and stock exchanged/converted?

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In Reply to: Company Purchased and stock exchanged/converted? posted by Jonathan on August 30, 2003 at 09:27:08:

: In July the company Ostex (OSTX) was purchased by Inverness Medical Innovations (IMA). I held shares in OSTX which were converted to IMA shares and I have been unable to figure out how to record the transaction in the program. Is there a function for stock conversions? Can it be recorded as a straight buy and sell? I am unaware of the price (at the time of the exchange) of the IMA stock I received.

Hi Jonathan,

This is recorded by just entering a Split transaction to convert your
investment to the new number of shares owned. You can then also go
into Investment Properties... and change the name/symbol. You may also
want to record a memo with the Split to remind you of what happened.

For example:
Say you owned 60 shares of OSTX, and after it was acquired you owned 90
shares of IMA. Record a 3 for 2 split for this example.

Thanks,
Mark
--
Mark Beiley

Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP

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