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Buying stock on Frankfurt versus London exchange

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  1. #11

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    So just spoke to IB - they don’t support Angle on AIM (I didn’t know they were limited!). So the option is Frankfurt or Spon ADR.

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  2. #12

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    Quote Originally Posted by Beanieskis:
    So just spoke to IB - they don’t support Angle on AIM (I didn’t know they were limited!). So the option is Frankfurt or Spon ADR.
    I am shocked its available with DBS but not with IB.
    shri likes this.

  3. #13

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    Having done a bit of googling it looks like ADR is more tax efficient than Frankfurt - looks like latter has CGT and former does not for non-residents. If anyone has any insights I should consider I'd be happy to hear them :-)


  4. #14

    Illiquid - Avg daily volume is 17 in Frankfurt vs 500k on LSE


  5. #15

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    LSE not an option unfortunately, without opening another trading account which would take ages.

    What about ADR? Also looks illiquid at the moment, but guess that may change as people become aware of their technology following the FDA approval. Not going to put a huge amount in and will probably hold it until they're bought out which is probably most likely outcome.


  6. #16

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    Withholding tax on dividends is levied by the country where the company is headquartered, it does not matter on what exchange you buy. Capital gains tax is levied by the country that you reside in, or in your case the tax jurisdiction

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  7. #17

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    Angle's own corp literature/site doesn't mention Frankfurt trading at all, only AIM and ADRs, so the Frankfurt trading must be one of those market maker-initiated application to get it trading on their open market quotation board - which doesn't need approval or any action from issuer.

    End result is lower liquidity, already flagged earlier so might not matter at all if you just want to buy and hold. Just wanted to point out it's not an issuer-initiated trading so e.g. trading ceases on Frankfurt for any reason, you'll have to find your own brokers/manuveur the shares somehow out of Frankfurt to get it fungible with the other shares. There won't be a issuer notice from Angle to shareholders in Frankfurt on next steps etc.

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  8. #18

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    I think Frankfurt is no longer primary exchange in Germany right, after they have that electronics exchange that linked all their few exchanges together.. that's what i remembered when i was looking at it several years ago.


  9. #19

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    Quote Originally Posted by freeier:
    I think Frankfurt is no longer primary exchange in Germany right, after they have that electronics exchange that linked all their few exchanges together.. that's what i remembered when i was looking at it several years ago.
    That’s Xetra.

  10. #20

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    Quote Originally Posted by HSY:
    Angle's own corp literature/site doesn't mention Frankfurt trading at all, only AIM and ADRs, so the Frankfurt trading must be one of those market maker-initiated application to get it trading on their open market quotation board - which doesn't need approval or any action from issuer.

    End result is lower liquidity, already flagged earlier so might not matter at all if you just want to buy and hold. Just wanted to point out it's not an issuer-initiated trading so e.g. trading ceases on Frankfurt for any reason, you'll have to find your own brokers/manuveur the shares somehow out of Frankfurt to get it fungible with the other shares. There won't be a issuer notice from Angle to shareholders in Frankfurt on next steps etc.
    Thanks. In the end we purchased the ADRs.

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