The ADR program is how foreign companies list into New York Stock Exchange, so Americans can directly buy foreign "shares" called ADRs, Amercian Depositary Receipts.
Holders wanting to convert aussie shares into ADRs do so in a ratio, in this case 10 Red =1 ADR. Mellon will be the Registrar.
Its effect will be to widen shareholding - maybe it will lift price if more eyes are watching &may smooth volatility as they will trade in "night"(ANZ time) and ASX in day time.
We may see our Amercian friends JPMorgan, BoA converting and playing their games back State-side
now listed on adr ..red fly, page-3
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Last
37.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.516B | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 39.3¢ | 36.8¢ | $11.13M | 29.50M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 32 | 2477379 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.0¢ | 582841 | 3 |
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| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |