2. BHP Billiton, the leading Australian mining company has its shares listed on Aus- tralian Stock Exchange and London Stock Exchange. Ignoring taxes and franking credits the dual listing is expected to converge to same share price when converting the LSE-listed BHP pounds sterling share price into Australian dollars 2.1) Does the law of one price apply to dual listing of the Australian company? 2.2) In what circumstances, can the arbitrage strategy give way to a positive gain to the investors