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Demutualization |
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Demutualization Refers to the process that has come about as the result of many not-for-profit exchanges (mutual companies owned by groups of members) converting to for-profit and then shareholder companies in order to go public. Demutualization The process by which a mutual company becomes a publicly-traded company. A mutual company is a company owned by its members or users for the benefit of those members or users. In demutualization, the members give up their rights and receive shares in the company in return, which the (now former) members may then sell. Demutualization happens most often when a stock exchange owned by its members goes public. As an aside, a mutual company should not be confused with a mutual fund. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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The Abbey National demutualised in 1989 and after a lull of a few years suddenly, within the space of a few months in 1997, the Halifax, the Alliance and Leicester, the Bristol and West, Northern Rock, and the Woolwich all demutualised. Each of the demutualised building societies has since run into problems as their financial models proved to be unsustainable, particularly during the economic slowdown of the last 18 months. The rise of the demutualised building society began in the 1980s when the Tory government allowed banks to offer mortgages, which had traditionally been the preserve of building societies. |
Demutualised |
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