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ChipMOS TECHNOLOGIES (Bermuda) LTD. Message Board

  • jayand777 jayand777 Apr 19, 2013 2:04 AM Flag

    A bit confused...

    From Gre Tai site:

    Q1. Are there daily price movement limits for GTSM stocks?

    Ans︰
    Yes. The daily price movement limits are ±7% of day’s reference price, rounded off to the nearest cent.

    Q2. What is the function of reference price? How is it determined?

    Ans︰
    Investor Handbook (effective on March 28, 2011)
    Reference price provides the price basis for calculating the daily upside/downside price limit. It is determined by the following means:
    The reference price for a stock on its first day of listing on GTSM is its underwriting price.
    The reference price for a stock on its second day of listing and after is determined by the following order:
    (1) The closing price through the automated trade matching system on the previous business day.
    (2) When the stock did not have transaction record through the automated trade matching system on the previous business day but there is a record of a bid quote(s) or ask quote(s) at the close of trading hours, if the highest quoted bid price is higher than the base price at the market opening on that day, then that highest quoted bid price will be taken as the reference price for the day; if the lowest quoted ask price is lower than the base price at the market opening that day, then that lowest quoted ask price will be taken as the reference price for the day.
    (3) The base price through the automated trade matching system at the market opening on the previous business day.

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