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clock Created with Sketch. 01/12/23
21:15
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Originally posted by TheAlpha1:
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The ADRs are the underlying shares that will be listed on NASDAQ. The more ADRs that exist results in better outcomes for (NASDAQ SP/MC) once we're listed. There's also currency conversion benefits of north of 50% in the coming years and psychologically on the American side as $1 USD is currently worth around $0.63c AUD and will fall to new lows over coming years and remain below 50c as the new norm. Quite unfortunate for the AUD but the situation is what it is. Long term there's also the inevitability of delisting off the ASX IMO some time in 2025. However, in the near term the fewer ADRs that exist the fewer the supply, which puts upward pressure on (non ordinary ADR prices pre/post NASDAQ). A backlog of ASX ordinary holders lining up to convert to ADRs in the lead up to NASDAQ or post listing could have potentially negative financial implications for fully ordinary holders. This would be especially true if the primary listing became NASDAQ indirectly through ASX ordinary holders converting to ADRs.
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