fire works tonight on nasdaq, page-14

You guys are aiming too high, It will happen later as the OZ investors cah in to the common stock but it will take a while and if we are lucky all the good news will creat the demand in the USA to soak up the OZ sellers. This will then bring the two prices into sync.

Good luck to us all !!

check out MEL's post.

According to the last Appendix 3B filed on 10th February, only 35 million CDIs had been converted to Nasdaq common stock or about 11% of the total issued capital. Of course, some further conversions may have occured in the last week, but it seems that less than 15% of shares are currently available to trade on Nasdaq.

Prior to today's 3 million CDIs traded, average volumes have been between 0.5 - 1.5 million per day - say 1 million on average.

1 million/6 = 166,667 Nasdaq shares.
Only 15% converted so equivalent trading level gives 25,000 common stock shares traded per day.

Last nights Nasdaq volume was 28,990, so looks consistent with CDI trading volumes on ASX.

My point is that yesterday's volumes on Nasdaq look consistent with ASX volumes and I wouldn't expect some huge number to be traded tonight. Volumes will grow over time as US investors buy into the UNS story, but opening Nasdaq price is very encouraging.