Thinking back to when the BOD explained their preference for a compliance listing: they mentioned explicitly that they this would allow them to keep all aspects of the listing under their control. I suspect part of what they meant by this is that they will get to choose when to create liquidity, at a time when the result will be an upward swing of the SP to give an initial favorable impulse to NASDAQ trading. Naturally, no better way to do this than to release positive OSA results, then in the next instant, populate the lines with ADRs for sale. So I think that might be what we see happen.
Nothing prevents third parties from selling their own ADRs, but we should not be surprised that third parties won't be selling them en masse until the ball gets rolling. Most of us holders don't want to let any shares go before OSA results, whether here on the ASX or on the NASDAQ!
IHL Price at posting:
67.0¢ Sentiment: Buy Disclosure: Held
