paired shares

Paired shares

Stock of two companies under the same management that are sold as one unit with one certificate.

Stapled Stock

Shares of two publicly-traded companies operating under the same management that are traded as if they were one stock. Most of the time, certificates for each stapled stock are printed on the same stock certificate. Stapled stocks are put together usually if one share pays higher dividends while the other has the higher potential for appreciation. Variations on stapled stocks include HOLDRS, which issue stocks in more than two companies as one certificate. Stapled stocks are also called paired shares.

paired shares

Shares of two firms under common management that are sold as a single unit. A single certificate may be issued to represent ownership in both firms. Also called stapled stock.
References in periodicals archive ?
M2 EQUITYBITES-May 31, 2017-Extended Stay America declares secondary offering of 25,000,000 and buy back of 583,530 paired shares
Blackstone and Centerbridge sold an aggregate of 20,000,000 of the paired shares sold in the offering and an additional 500,000 paired shares sold to Extended Stay in a private transaction at a price per share equal to the price per share paid by the underwriter in the public offering.
M2 EQUITYBITES-March 7, 2017-Extended Stay America declares secondary offering of 25,000,000 paired shares and share buy back agreement
Blackstone and Centerbridge sold an aggregate of 8,500,000 of the paired shares sold in the offering and an additional 850,000 paired shares sold to Extended Stay in a private transaction at a price per share equal to the price per share paid by the underwriter in the public offering.
Extended Stay America Inc and ESH Hospitality Inc (NYSE:STAY) (together the company) announced on Thursday that the company's boards of directors has authorised an increase of the combined paired share repurchase programme from USD200m to USD300m of paired shares and extended the maturity of the programme through 31 December 2017, each effective 1 January 2017.
Blackstone and Centerbridge sold an aggregate of 8,666,667 of the paired shares sold in the offering and an additional 1,300,000 paired shares sold to Extended Stay in a private transaction at a price per share equal to the price per share paid by the underwriter in the public offering.
M2 EQUITYBITES-December 13, 2016-Extended Stay America declares secondary offering of 12,500,000 paired shares and repurchase of 625,000 paired shares
M2 EQUITYBITES-November 15, 2016-Extended Stay America declares secondary offering of 12.8m paired shares
M2 EQUITYBITES-September 30, 2016-Extended Stay America prices secondary offering of 13m paired shares
Additionally, the board of both entities approved a combined repurchase programne for up to USD100m of the paired shares that expires on 31 December 2016.
M2 EQUITYBITES-November 13, 2015-Extended Stay America prices secondary offering of 15m paired shares at USD0.17025 per share
M2 EQUITYBITES-August 5, 2014-Extended Stay America commences secondary offering of 21m paired shares