The Board of Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (BASE:CRES) announced the spin-off of 3% stake in IRSA Inversiones y Representaciones Sociedad Anónima (BASE:IRSA) on October 5, 2023. As per the transaction, IRSA will issue 0.03759065836 shares for every 1 share held in Cresud as of the local record date of October 11, 2023.