IRLBF is BKIR.L shares traded on the pinksheets here. They only are cleared through Mellon in NYC so shares can be difficult to purchase/sell and volume is limited and often illiquid so you want to make sure you get them at a proper valuation IMO. For example BKIR.L closed at .09 today so take that times 1.36 for the euro conversion and you get .1224 - that is the intrinsic value of IRLBF currently so at .14 IRLBF is trading at a premium to BKIR.L
By contrast IRE closed at 4.66 today. To see how close it is currently tracking BKIR.L you take .09 x 1.36 for the conversion and then multiply that times 40 - 4.89
IRE is an ADR, American Depository Receipt, which represents 40 shares of BKIR.L
So IRLBF is currently overvalued compared to BKIR.L and IRE is currently trading at a discount.
Gigo; check this one out- IRLBF board; Malc and i developed when IRE was manipulated as a way investing in BKIR.ISE shares indirectly. Keep in mind Ross has a large stake in Bank of Ireland. He hardly makes any mistake. He bought in @0.10 euro ; it is only 0.08 euro now 'cause of overselling by shorties. There is no short ban in Ireland it seems but other countries banned short selling in financials.. It is a good level to get in for only a long haul. IRE is more liquid then IRLBF, which is trading in gray markets being also manipulated. http://investorshub.advfn.com/boards/board.aspx?board_id=21896 GL mlkr