HSN begins trading its own stock

For the first time in more than a decade, HSN Inc. began trading as its own stock around the lunch hour Tuesday on a "when-issued" basis.

That means there will be no stock certificates issued for the St. Petersburg TV shopping network until Aug. 21 when parent IAC/InterActiveCorp completes the spinoff formally splitting Barry Diller's e-commerce empire into five pieces, each with its own stock.

Diller is keeping his interest in IAC and Ticketmaster Inc. But he is severing his relationship with three other spinoffs: HSN, Miami-based Interval Leisure Group and Charlotte-based Tree.com, which was previously known as LendingTree.

HSN, which temporarily trades under the symbol HSNIV on NASDAQ, closed Tuesday at $10.90, up from an initial $10 price in light trading.