Each share has its own ASX code attached, which provides a simple way to identify whether a share is anything other than an ordinary share. This unique identification code is displayed on ASX ticker boards and in media share market tables. All securities issued by a company will incorporate the company code. As an example, the code for any security issued by the Commonwealth Bank of Australia will include the code CBA.
To identify the difference between ordinary, preference and partly paid shares on the ASX, follow the guidelines below:
Ordinary shares: Ordinary (or common) shares can be identified by the ticker symbol that starts with the letter C.
Preference shares: Preference shares can be identified by the ticker symbol that starts with the letter P.
Partly paid shares: Partly paid shares can be identified by the ticker symbol that starts with the letter L.
It’s important to note that not all shares that start with C, P or L are necessarily common shares, preference shares or partly paid shares. ASX provides detailed information about the company and its shares on its website, and it’s always advisable to research the company’s profile and financials before investing.