NPX traded in NZ cum rights on Friday at NZ$0.89 cents = NZ$0.31 cents ex rights or A$0.26. In ASX, it traded at 29.5 cents or a 13.5% premium.
The gap was as much as 33% on Thursday, 26th Mar when NPX was 39.5 c on ASX and NZ$1.03 in NZ!
Great arbitraging for the instos who sold in ASX and bought back in NZ. No wonder they have such contempt for retail investors.
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- 33% cheaper in nz - instos clean up oz mugs
NPX traded in NZ cum rights on Friday at NZ$0.89 cents = NZ$0.31...
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