It's the same shares. The shares that you purchased probably can be sold after the IPO. Although there could be a lockup period. I don't know.
The "stock dividend" are shares issued to ITUP when the WM arm is acquired. Now that I think about it, perhaps the plan was that ITUP will issue HALF as a stock dividend, and keep the other half (as a holding company). I am not sure. But the business combination will take place 12-18 months from now. And there most likely will be a lockup period (6-12 months). But my point was that even if ITUP never lists on a senior exchange (which is not to be expected) then, you will still get very good value from the stock dividend, which can be sold.
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