By Michael Dabaie


Constellation Energy Corp. shares were up 11.5% to $55.20 in morning trading after completing its separation from Exelon Corp.

Exelon shares dropped 27% to $41.96 Wednesday morning.

Constellation is the former power generation and competitive energy business of Exelon. Energy utility company Exelon's transmission and distribution utility business will continue to be called Exelon and trade on Nasdaq under the ticker symbol EXC. Constellation began regular trading on the Nasdaq Global Select Market under the symbol CEG.

Exelon operates across a large, mainly urban, service area in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania.

Exelon shareholders received one share of Constellation common stock for every three shares of Exelon common stock they held.

Headquartered in Baltimore, Constellation said it will be a Fortune 200 company and operates in 48 states, Canada and the U.K. and employs about 13,000 people.

Constellation said it is looking at growth opportunities and can pursue avenues for growth including potential acquisitions of clean energy assets, creating clean hydrogen using its nuclear fleet, introducing new products and services for business customers.


Write to Michael Dabaie at michael.dabaie@wsj.com


(END) Dow Jones Newswires

02-02-22 1125ET