12. Ciments Lafarges ADRs (beginner). Ciments Lafarge trades on the Paris Bourse and on the NYSE as...
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12. Ciments Lafarge’s ADRs (beginner). Ciments Lafarge trades on the Paris Bourse and on the NYSE as an ADR. If its shares trade for €80.40–81.20 on the Paris Bourse, what would you expect to be the quoted price of its ADR to a potential U.S. investor? The euro is trading at 1.3075–1.3180, and one depositary receipt is equal to one-fourth of its share.
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