questain about nasdaq listing, page-2

I think what happens is an issuing bank in the US purchases AUS shares on market and packages them as lots of 30 to equal 1 US share, so they will first need to sell them to US investors at whatever price they are interested in paying initially and the bank will issue "ADR Prima" shares.

Traders will need to watch exchange rate closely too as this tends to move from parity on a daily basis.

The key value driver will become clear once the first packages of shares are offloaded to the US market. Id say it will be difficult for the issuing bank to know how many shares to purchase in order to satisfy US demand and may take some time to get enough (or else they will drive the SP up early before listing).

If they dont buy enough then the Nas will be starved and more will need to be purchased quickly on the AUS register until enough are on market for all to enjoy.

NOTE: You can imagine an ideal situation where one (wealthy!) early trader buys them all when market opens on first day and suffocates the market until the bids are raised until they are high enough for release and first round of profit taking. This could take days or months, or seconds, totally demand driven. SO the more marketing MR does now the closer we could get to this "ideal" situation. My speculation only an I could be completely wrong, Good luck guys. Give it a few weeks i recon before any more hype/news.