Hi all,
I took that, coupled with Red Bar's initial post, to mean that 240M is the max we will see in play on the ASX at any point in time. If the delta between the two exchanges favours the US for too long (i.e. ASX shares cheaper) the custodian bank will move to soak up some of the 'surplus' shares and convert them to ADR's. I don't know whether 'too long' is minutes, days or weeks.
This would have the effect of lifting the SP on the ASX, albeit at the expense of some liquidity. TBH, I am just trying to piece it together like everyone else. I contacted my full service broker and he said, better just to google it. Good grief.
Pinto, thanks for starting this thread, and thanks also to those very learned posters who have taken time to share their knowledge and understanding. It's damned interesting and I sense most of us are getting grey matter stretched as a result.
Cheers
Roy
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