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Types of shares

Not all shares traded on the ASX have the same rights and characteristics. Find out about different types of shares and how you can identify them.

Types of shares

There are three different types of shares traded on ASX, each with their own characteristics. Understanding the differences between them is important as you make your investment decisions, since these characteristics can affect the way you decide to invest. 

Most shares traded on ASX are ‘ordinary’ shares. Ordinary shares carry no special or preferred rights. Holders of ordinary shares will usually have the right to vote at a general meeting of the company, and to participate in any dividends or any distribution of assets on winding up of the company on the same basis as other ordinary shareholders.

How to identify different types

The quickest way to identify whether a share is anything other than an ordinary share is through its ASX code.

Every product traded on ASX has a unique identification code which is displayed on ASX ticker boards and in media sharemarket tables. All securities issued by a company will incorporate the company's code. For example, the code for any security issued by Commonwealth Bank of Australia will include the code ‘CBA’.

The code for the ordinary shares of an ASX-listed company is the same as the company code, with three characters. If there are more or fewer than three characters in the code, the security is likely to be something other than an ordinary share. 

For example, preference shares usually have a five letter code consisting of the company code and a two letter suffix, generally PA-PZ. Partly-paid shares usually have a five letter code consisting of the company code and a two letter suffix, generally CA-CZ (except CP).

Where to next?

ASX acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past and present.


Artwork by: Lee Anne Hall, My Country, My People

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