SAP A.G. Message Board - Msg: 5367163

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Technology Stocks : SAP A.G.

SAP 241.75

+0.7%

Nov 28 9:30 AM EST

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To: Lloyd Davies who wrote ()	7/30/1998 6:38:00 PM
From: Bush Hogger	Read Replies (2) of 3424

The way I understand it is. SAP is just doing a listing on the NYSE. I don't believe they are selling new shares, just moving shares that trade in Germany to the US. Thus there will be less shares available to trade in Germany, and obviously more shares in the US. The two stocks will continue to move in step with each other, when both markets are open. However, when the German market is closed the shares could trade up or down in the US, regardless of the German market to trade their shares, but as far as bringing attention to SAP close. The listing will provide US holders of the ADR a more liquid -- I don't think so. Who hasn't heard about SAP yet. This company is already a marketing giant. Maybe the listing will enable some funds who couldn't buy ordinary german shares to become shareholders -- through the ADRs, that is about as much as we can hope for. Really this listing, however is a non event.

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