# FPO meaning



## mattyotoole (27 January 2012)

When I'm purchasing shares I understand FPO is Fully Paid Ordinary. However, what does it mean when a stock has PLC CHESS DEPOSITARY INTERESTS 1:1? 

Any response would be appreciated.

Regards

Matt


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## skc (27 January 2012)

mattyotoole said:


> When I'm purchasing shares I understand FPO is Fully Paid Ordinary. However, what does it mean when a stock has PLC CHESS DEPOSITARY INTERESTS 1:1?
> 
> Any response would be appreciated.
> 
> ...




CDI are for companies listed on another exchange. 

http://www.asx.com.au/documents/products/chess_depository_interest.pdf

The 1:1 denotes the ratio between the CDI's and the primary exchange. 

Resmed (RMD) is one example. It's primary listing is in US and the CDI's are listed on ASX. For RMD the ratio is 10:1. So 10 CDI's = 1 RMD:US. This ratio is important because the company reports refer to the primary listing. So a 10c reported eps is only 1c per CDI.


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