It's a great time to be listing on the NASDAQ, the NASDAQ Biotechnology index is approaching an all time high. American investors will no doubt value PRR more highly than those in Australia.
The proof of this is in recent takeovers:
FMS was trading around 15c before a 30c offer.
AKI was trading around 30c before a 57c offer.
TSO was trading around 50c before a 98.5c (US) offer.
Each of these offers are from overseas raiders who (no doubt) think they're getting a bargain. Yet the offer price in each case is nearly double the pre-bid share price. This shows how stupid Australian investors are and how pessimistic the Aussie share market has become.
Prior to the NASDAQ listing announcement PRR was trading around 16c. I expect US investors will value PRR significantly more than 16c (AU). Hopefully this cause Aussie investors to re-rate PRR as well.
nasdaq listing
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Last
34.0¢ |
Change
0.005(1.49%) |
Mkt cap ! $493.8M | |||
| Open | High | Low | Value | Volume |
| 33.5¢ | 34.0¢ | 33.0¢ | $1.220M | 3.642M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 57289 | 33.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.0¢ | 52306 | 3 |
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| IMM (ASX) Chart |