Question
In the TSX, RIM stock closed at CAD85 per share. On the same day, the exchange rate was CAD1.34/USD. RIM stock trades as an ADR
In the TSX, RIM stock closed at CAD85 per share. On the same day, the exchange rate was CAD1.34/USD. RIM stock trades as an ADR in the OTC market in the United States. Seven RIM shares are packaged into one ADR. What is the approximate no-arbitrage US price of one ADR? Multiple Choice $114. $797. $63. $595.
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Finance For Executives Managing For Value Creation
Authors: Gabriel Hawawini, Claude Viallet
6th Edition
1473749247, 9781473749245
