China Unicom ADR Question
China Unicom ADR Question
I had a couple of these shares previously before it was delisted on the exchange. The last traded price was about $6 USD per share but with Merril Lynch they said they can convert to ADR but it was trading at $4.62 HKD and the 52 week high was $6.70 that means these shares are about $0.60 USD. so does that mean once I convert the shares I will lose about $5.40 per share? and since the 52 week high was $6.70 HKD how was it ever able to trade up to weekly high of $9.35 USD in the states? I was told previously each CHU Adr share was equivalent to 1 share of China Unicom in Hong Kong