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What does demutualize mean?

Looking for the meaning or definition of the word demutualize? Here's what it means.

Verb
  1. (building society) To change from mutual ownership to ownership via stocks or shares.
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Examples
However, the move to demutualize has left a major gap in the training of agents, French noted.
The Exchange expects to demutualize entirely later this year, and is currently implementing PCX Plus, a new electronic trading platform with an enhanced market structure.
You don't have to demutualize when you have a strong capital base.
Directors of the CBOE had approved plans to demutualize and complete an initial public offering of CBOE Holdings, Inc, the holding company.
On May 12, 1998, John Hancock Mutual Life Insurance Company made an announcement about its plan to demutualize and issue stock through an initial public offering.
In 1994 Midland decided to demutualize and become a stock company.

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