Piraeus Bank SA ADR (BPIRY)

[koen2]

Found it

As a result, effective July 1, 2013 BNY Mellon will change the ratio on the Piraeus Bank S.A Depositary Receipts
(“DR”) program from 2 DRs representing 1 common share to 1 DR representing 2 common shares. The ratio
change will occur simultaneously with a 1 for 40 reverse stock split on the DR program.

So price in Athens is euro 0.65

i have 2 shares for each adr pre slpit

So $0.0181/2= $0.00905
X100 = $0.905 /1.0884 (euro/$ ratio) = 0.83 euro.

So stiil trading above the Athens market.

Most funds bought new shares in the $0,3 region.
Is stiil a discount of 50% to the Athens market;

They issued over 8 billion shares.
current marketcap is well over 5 billion.


To get back to my $0.025 price should go to 1.15 euro.
Thats a 9.2billion marketcap.

Should sell at the beginning of trading monday.
and take the 30% loss.


Looking not good here.