Trading Tenaris

Trading Tenaris

I have had several emails about dealing in Tenaris (TEN IT), where IT means Italy.

Some have asked if Tenaris SA is the same thing. SA is similar to Ltd or Plc. So yes, SA is fine.

Others have seen MI on their platform, which is Millan. That is fine.

I have also been asked about the US ADR (American Depositary Receipt), where the ticker is TS. The price is twice that of the European shares because 1 ADR is 2 ordinary shares. TS is a good idea if you are struggling with Italy/Milan/Euronext, but the market does not open until 2:30 PM BST (UTC+1). Please do not deal until the market is open. Buying at the open can lead to spurious prices and is best avoided. You may need to fill out a W8-Ben form with your broker to deal in US shares.

Different platforms describe things in different ways, which makes this difficult. Moreover, going global was never going to be easy the first time. But there is only one Tenaris, and the ISIN codes and approximate prices are shown.

ISIN Codes
Tenaris Italy (TEN) LU0156801721 EUR 13.7 this morning
Tenaris Euronext (TEN) 7538515 IT EUR 13.7 this morning
Tenaris US ADR (TS) US88031M1099 $29.87 on Monday’s close

If you are stuck, have a look at their website.

If you are really stuck, feel free to email me.

Many thanks,

Charlie Morris

Editor, The Multi-Asset Investor

The Multi-Asset Investor is issued by ByteTree Asset Management Ltd, an appointed representative of Strata Global which is authorised and regulated by the Financial Conduct Authority. ByteTree Asset Management is a wholly owned subsidiary of CryptoComposite Ltd.

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