Forum Archive Index - December 1999

[Stuart Cairns <stuart.c@dfmainland.co.nz>]

Mark
Your shares will be registered in New Zealand. You are able to sell them in 
Australia but this does require registering the shares on the Australian 
registry. Your broker will be able to arrange this and it can take a few 
days so if you feel you are going to sell the shares in the Australian you 
should get them registered on the register in Australia first.

Stuart H. Cairns
email ; stuart.c@dfmtrade.com
tel 64+9+307 9066 fax 64+9+307 9061
dfmtrade offers registered clients no brokerage
for buying and selling shares, at market, over the internet,
for the month of December. Visit our website to register
http://www.dfmtrade.com


-----Original Message-----
From:   Mark Hubbard [SMTP:mhubbard@es.co.nz]
Sent:   Thursday, 2 December 1999 16:54
To:     sharechat@sharechat.co.nz
Subject:        [sharechat] Dual Listed Shares

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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