Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: singletree who wrote (1915)	8/1/1998 4:05:00 AM
From: WarrenU	Read Replies (1) \| Respond to of 3424

From the CMP article, techweb.com <In anticipation of its NYSE listing, SAP has changed its American Depository Receipts ratio from 3-to-1 to 12-to-1. ADRs are negotiable receipts used for the securities of a foreign-based company and function like stock shares. The ratio is important because it will be used to set the price of shares Monday. This means the price of SAP shares on the German DAX -- Germany's index of blue-chip companies -- at the close of Friday's market will be divided by 12 to determine the U.S. price. SAP's shares traded at $701.66 at the close of trading in Germany Thursday, meaning SAP's shares will be about $58.47 on the NYSE. > ??? Why are they using Thursday's closing price? And in any case, wasn't Thursday's close $61? (or 61x12=732)