Forum Archive Index - December 1999

["Mark Hubbard" <mhubbard@es.co.nz>]

Can someone please enlighten myself as to how shares in the same company
which are listed in two different countries work.

For example, I have an application in (fingers crossed) for shares in the
Chrome Global IPO. This company plans to list at the end of this month on
both the NZ and Australian exchanges. Does this mean that I could sell my
shares on either exchange?

Also, Fernz Corporation is one of those firms already listed in both
Australia (FZC) and NZ (FER). I have shares in this company (purchased for
$NZ4.36) - my shares were purchased on the NZ exchange, does this mean I can
only sell them in NZ?

The CEO of Fernz states that the shares may well gain when it is listed
primarily in Australia. Okay, there would be a bigger market there, however,
it is already listed there, so what does this actually mean?

An interesting point is that Fernze ended today in NZ on $NZ4.35, whereas,
in Australia the company's shares last traded at $A3.62, which converts to
$NZ4.51. Surely  after correcting for the currency, they should be of
equivalent value on both exchanges?

A little confused.

Regards




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