FBU - Fletcher Building

[Greekwatchdog]

$7.25. Volume low..

[tim23]

$7.25. Volume low..

640k approx traded on the NZX but 1.4 million on the ASX so nice lift on decent volume.

[Baa_Baa]

640k approx traded on the NZX but 1.4 million on the ASX so nice lift on decent volume.

Attention to details, well done. Follow the money, it might not be on NZX

[sb9]

640k approx traded on the NZX but 1.4 million on the ASX so nice lift on decent volume.

NZX trading is irrelevant for lot of dual listed companies, FBU in particular is driven heavily out of ASX.

[sb9]

Attention to details, well done. Follow the money, it might not be on NZX

Quite a few companies fit that criteria amongst dual listed stocks.

[Balance]

NZX trading is irrelevant for lot of dual listed companies, FBU in particular is driven heavily out of ASX.

Australians now own 50% of FBU vs 26% for NZers.

[Checkmate]

Australians now own 50% of FBU vs 26% for NZers.

how does that work by the way? Do the Aussies own more of the NZ shares or is there just a lot more shares listed on the ASX than the NZX?

[Balance]

how does that work by the way? Do the Aussies own more of the NZ shares or is there just a lot more shares listed on the ASX than the NZX?

Dual listed stock - more and more of the stock now reside on ASX as 50% owned by Aussies.

You can see it in the turnover numbers (NZX vs ASX) and how FBU as a stock now blindly follows ASX lead.

[Scrunch]

how does that work by the way? Do the Aussies own more of the NZ shares or is there just a lot more shares listed on the ASX than the NZX?

There's nothing stopping Australian's owning shares that are on the NZ register (or NZ citizens owning shares on the Australian register). It is however more convenient to own shares trading in your home currency. What will have happened over the last 10+ years is Australian insto's bought on the NZX, shunted the shares over to the Australian register and then started trading them on the ASX.

The trading location with the most volume will tend to attract more volume because large positions can be created and reduced more easily. I'd therefore guess some of the US and other overseas institutional buying is also progressively heading over the ditch.

Regardless of whether the share is traded on the NZX or ASX, its still an ordinary FBU share.

[Greekwatchdog]

Bit of a star today