After the split, the shares might initially trade for about $25.

The new maintenance division initially traded as Salmesbury Engineering Ltd.

When the stock opened at 10:17, it traded initially at $20.375, down $1.375 from Friday's close.

The wide ranges made it difficult for investors to gauge where a stock would initially trade, the staff said.

The company floated in July 1997 with shares initially trading at 390p.

The stock, which initially traded in the $40 range, is now trading below $1 a share.

After initially trading higher, stock markets were lower in Europe and elsewhere, too.

The port of Swansea initially traded in wine, hides, wool, cloth and later in coal.

While no one knows at what price the new stock would initially trade, its holders would benefit as the company's value increased over time.

On Wednesday, many insurance stocks initially traded lower, but they turned up, with the stocks responding as if the companies had just reported great earnings.