Brink's to spin off home-security arm on Oct 31

BOSTON (Reuters) - U.S.-based security company Brink's Co (BCO.N) plans to spin off its home-security unit on October 31, the company said on Friday.

Shareholders in the parent company will receive one share of the new company, called Brink's Home Security Holdings Inc, for each Brink's Co share they hold as of October 21. Brink's has applied for approval for the spun-off entity to trade on the New York Stock Exchange under the ticker "CFL."

After the spin-off, Brink's Co will focus on secure transportation and cash management services -- provided by the company's iconic armored cars. Brink's Home Security will offer home alarm systems.

Brink's Co in February disclosed its plans to spin off the home security unit.

The Richmond, Virginia-based company's shares were up $1.84, or 2.7 percent, to $70.69 on the New York Stock Exchange.

(Reporting by Scott Malone; editing by Gunna Dickson)