Rightside, the spin off of Demand Media which begins formal trading on August 1, started to trade on Friday on a pre-issue basis on the symbol NAMEV.
Although shares are lightly traded the price is $14.30 which is up from an opening of $14 a share.
Interestingly the market cap of Rightside as its trading under NAMEV is $260 Million.
Demand Media, Inc. is trading today at $5.12 a share with a total market cap including Rightside of $465 Million.
Meaning that if the valuations hold, Rightside has about 60% of Demand Media, Inc market cap or value.
Under the spin off shareholders of Demand who were record shareholders as of last Friday will receive 1 share of stock in Rightside for every 5 shares it owns in Demand.
Rightside will include the domain name registrar, registry and backend provider business for registries including Donuts
