Stock with dual listings (eg HDR)

[markrmau]

As you know some stocks are listed on a number of exchanges (such as HDR listed on ASX and london markets).

I was surprised that HDR opened significantly lower here than it closed in London ($ 1.90 AUD). Can anyone offer explanation (I assume the stocks carry the same dividend and voting rights).

Thanks, Mark.

[RichKid]

Just a guess, but different market (ie different investors, maybe different views/sentiment), number of shares on issue may differ thus affecting supply/demand/liquidity and price, HDR doesn't pay dividends, exchange rate may have something to do with it if it affect earnings.

Not really sure but they (AIM and ASX prices) should roughly be following the same pattern, allowing for time lag/holidays etc, maybe a few kinks along the way.