demutualizeverb [ I or T ]
UK also demutualise uk/ˌdiːˈmjuːtʃuəlaɪz/usFINANCEif a financial organization demutualizes, it becomes a company with shares owned by shareholders, and is no longer owned by the people who have money in it:
The Board quit after it failed to get the minimum 75% vote from members in favour of demutualizing.