demutualize
verb [ I or T ]
FINANCE (UK also demutualise) uk/ˌdiːˈmjuːtʃuəlaɪz/ usif 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.