I think Mutualfundmonday said the $8.61 is the price MPEL got by cnverting their loans. Umm... is that right???
Upon the Dual listing, there will be two separate symbols for the same company, MPEL. At the end of each quarter, how will they sort out profit or losses?
It seems like the new symbol for MPEL under SEHK will have a better chance of greater "price" appreciation. And MPEL(ticker symbol from Nasdaq) might do nothing after a great run from yesterday's. What does anything think?
They don't have to sort out any profits or losses between the two tickers. They represent the same company. Plenty of companies out there are traded on multiple exchanges. Take Toyota for example. They trade on the Japan exchanges and you can also buy ADSs in them on the U.S. market. How the stock closes will generally (but not always as there may be news items in between) affect how the stock opens in the other market.
fbi, the 8.61 is right. I read all the SEC filings MPEL puts out there unlike 99% of the people here. That's why I'm knowledgeable about the company.
"The conversion price (the "Conversion Price"), which is US$2.87 per Share, was determined as one-third of the volume weighted average price of the American Depositary Shares ("ADS(s)") of the Company as quoted on the NASDAQ Global Select Market, over the period of the five business days (being NASDAQ trading days) immediately preceding November 29, 2011, as each ADS represents three Shares. The Conversion Price per ADS was US$8.61 and if the Company had issued ADSs on the conversion, it would have issued approximately 13,403,977 ADSs."