Some companies cross-list their shares, meaning that their stock trades on more than one stock exchange. For

Question:

Some companies cross-list their shares, meaning that their stock trades on more than one stock exchange. For example, Restaurant Brands International (QSR), the parent company of Burger King and Tim Hortons, trades on both the Toronto Stock Exchange and NYSE. If its price in Toronto is 80 Canadian dollars per share and anyone can exchange Canadian dollars for U.S. dollars at the rate of US$0.75 per C$1.00, what must QSR’s price be on NYSE?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamentals Of Corporate Finance

ISBN: 9780135811603

5th Edition

Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford

Question Posted: