The US shares won't be a direct 1:1 valuation with the AUS shares.
Like with SSN, the US shares are something like 12x higher priced than the AUS shares, so you all have to take their relative value.
Quote from today's announcement:
"Sundance proposes to raise approximately US$150-180 million under the IPO through the issuance of up to 20 million American Depositary Shares (ADSs), with each ADS representing a certain number of fully paid ordinary shares of Sundance (Shares)to be determined at pricing of the IPO."
I believe the relevant information is that the maximum number of ADSs issued is 20 million, so the US shares might be priced in the $8 range, (compared to the $1 AUS price), so ingoring exchange rates, the US shares might be weighted 8 times heavier than the Australian shares, if you catch my drift?
SEA Price at posting:
96.0¢ Sentiment: LT Buy Disclosure: Held
