I dont see anything in the filing to suggest that interpretation.
50 million American Depositary Shares = 50 million AU PRR shares.
The maximum aggregate price of $5.00 per unit is for 100 shares.
So in effect BNYM will initially make available the equivalent of 50 million PRR ordinary shares at a maximum price of 50 cents.
How that will be converted to ADRs on the Nasdaq is apparently detailed in an exhibit appended to the registration filing, that has not been included in this instance. Neither is the indicative selling price of the ADR's.
We have previously been advised they intend to use a conversion factor of 30:1
I dont see anything in the filing to suggest that...
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29.5¢ |
Change
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Mkt cap ! $435.7M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 8 | 45749 | 29.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 279857 | 13 |
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