I don't really see how they can list in the US without issuing more shares (ie capital raising). The alternative would be to accumulate enough shares to issue for the foreign bank to issue as ADRs. But how do you get a sufficient quantity to make it worthwhile? To me it seems much easier and makes a lot more sense to wrap it in with a capital raising. I'm not really fussed about it listing on the US. But I guess with most of their operations in the US maybe the local exposure would be better for business opportunities as well?
AJX Price at posting:
54.0¢ Sentiment: None Disclosure: Held
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