shares of BBL currently trade at a 16% discount to shares of BHP on the NYSE!
What could possibly explain this discrepancy? One ticker (BHP) has about 2.5 times as much volume as the other, so conceivably liquidity could have something to do with it. Or, maybe BHP, being headquartered in Australia might be perceived as more the right place to be with A$ and commodities in general rising. But, these seem like flimsy reasons for such a large difference in share price. Could the dividends for BBL be any less secure? I am looking for other ideas to explain this discrepancy.
If there is no good explanation, then the question becomes, which one is priced correctly?
Urche
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