with the coming devaluation of the YEN MC looks very toppy here and this chart reflects that.BUT you can buy 10 more shares now than you could a few weeks ago because of ADR
change........should you jump on-------NO
siliconinvestor.com
Matsushita alters ratio of American Depository Receipts
12/11/00 3:33:00 AM
NEW YORK, Dec 11 (Reuters) - Japan's Matsushita Electric Industrial Co. Ltd. <6752.T> <MC.N> said Monday it was changing the ratio of its American Depositary Receipt (ADR) in order to make it easier to invest in the company.
The ratio has been changed from ten shares of Matsushita's underlying common stock per one American Depositary Share (ADS), to one share of common stock per ADS, the company said.
As a result, one ADS, which previously represented ten shares of common stock in Matsushita, now represents one share of common stock, Matsushita Electric Industrial said.
This ratio change, in the form of a ten-for-one ADS split, is intended to provide U.S. investors, particularly individual investors, with the convenience of purchasing Matsushita ADSs at a substantially lower per-share price, the company said.
Matsushita said it expects the change to help strengthen its foreign shareholder base and increase the number of ADS holders in the United States, better corresponding with its international business presence. The ratio change will take effect today, December 11, 2000, and will be handled by Matsushita's depositary, Morgan Guaranty Trust Company of New York.
Matsushita's ADS closed at $245.88 on the New York Stock Exchange Friday. |
