Quiet day for Amazon on ASX

After a slow first day of trading yesterday, Amazon.com convertible notes closed 10 cents up on their original sale price on the ASX. The notes rose to a high $15.75 before closing at $15.70.

Paul Delange, financial products and sales manager for Salomon Smith Barney who issued the notes, said his company was "happy" with the closing price, which had been valued against Amazon's closing share price last Wednesday.

However, Delange said he was disappointed with the "very low" volume of trading of the notes. Only 1000 notes were traded before the market closed.

Public companies use convertible notes to raise funds without diluting their existing share base. Note holders can exchange 10 convertible notes for a single Amazon.com share.

Delange said historically convertible notes were not traded as frequently as normal shares as the process was more complex and the public didn't fully understand the concept. However, he expected this would change as more people became aware of the basics of trading.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

David Smedley

PC World

Comments

Comments are now closed.

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide

Shopping.com

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?