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Technology Stocks : SAP A.G. -- Ignore unavailable to you. Want to Upgrade?

To: Anita Backus who wrote (599)	3/26/1998 9:09:00 PM
From: Ibnbatutaa	Read Replies (2) \| Respond to of 3424

Anyone on the thread understand the ADR issue process? I understand ADRs are "backed" by shares issued on the domestic Exchange of a company in question (for SAP this would be the DAX), but I presume that when SAP lists on the NYSE not only will they sanction this 4:1 proposed split of existing ADRs, but I suspect they will need to increase the total number of ADRs, even after the split, as turnover is likely to be in the millions,as opposed to the thousands now. Do they do this by issuing more Preferred shares in Germany (held in trust for the ADRs)? ......or is there some other mechanism. Regardless..SAP will continue to fly. BTW, Anita...Welcome to SI! Ibnbatutaa