Alibaba recently did a Global Depository Share (GDR) IPO in the Hong Kong market. · The Hong Kong shares closed at HKD 198.40. · The shares trade in the US market at USD 200. · The H

Posted: December 30th, 2021

Alibaba recently did a Global Depository Share (GDR) IPO in the Hong Kong market.
· The Hong Kong shares closed at HKD 198.40.
· The shares trade in the US market at USD 200.
· The Hong Kong Dollar trades at 7.83 HKD/USD.
1) With that information, calculate how many Alibaba HK Global Depository Shares are required to purchase one Alibaba American Depository Share (Hint: don’t give me a fractional number of shares)