Howard W. Lutnick, chairman and CEO of BGC and chairman of Newmark Howard W. Lutnick, chairman and CEO of BGC and chairman of Newmark

NEW YORK CITY—BGC Partners Inc. reports that its Board of Directors has approved the distribution of Newmark Group Inc., shares to BGC stockholders in connection with its upcoming spinoff of Newmark Group.

The spinoff of commercial real estate services firm Newmark Group is expected to become effective on Nov. 30, BGC reports. The stock distribution will be to BGC stockholders of record as of the close of business on Nov. 23, 2018 (the record date).

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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