Not withstanding NASDAQ listing later this year.
ADR ratio (est PH) 50:1.
ASX shares converted- after bought either on/off market
Held by depository bank - NYM/JP Morgan. Possible accumulation going on now, as they need to hold inventory in readiness.
Another ASX biotech now dual listed has approx 20% of SOI converted to NASDAQ ADRs. Listing was several years ago and moderately successful.
If NASDAQ demand is 10% of Imugene's SOI (personally think it could be significantly higher) that would see 600 million shares transferred.
Based on 50:1 conversion = 1.2 million ADRs
Approx $4.30 per ADR
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-16
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