LNGLY are American depositary receipts (ADR's) for LNG.ASX. Owning an LNGLY ADR gives you thee right of exchange for 4 LNG.ASX shares. Think of them as a bank or govt cheque. A bank or govt check isn't cash but it gives you the right of exchange for cash. There is no real financial difference between holding LNGLY vs LNG.ASX, it's more a matter of convenience for people on different sides of the globe. LNG.ASX and LNGLY should generally stay within the 4:1 plus exchange rate range. If they don't then there is an incentive in terms of arbitrage to buy one and convert it into the other to sell at a profit, which would then bring them back into line. As for a link, I don't have one but you can search and read about ADR's. The ASX has the equivalent in reverse, which are called CDR's (Chess depository receipts).
- Forums
- ASX - By Stock
- LNG
- LNGLF vs LNGLY
LNGLF vs LNGLY, page-7
-
- There are more pages in this discussion • 13 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LNG (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online