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GDR
SUBMITTED BY:HIMANI KALRA
MBA (GEN)
SECTION A
35
USM, K.U.K
SUBMITTED
TO:DR ANIL MITTAL
PROFESSOR
TA B L E O F C O N T E N T S :
WHAT IS ADR ?
ADR- AMERICAN DEPOSITARY RECEIPTS
ADR RATIO
Single
1 ADR = 1SHARE
ADR Ratio = 1:1
Multiple
1 ADR = 5 SHARES
ADR Ratio = 1:5
Fraction
1 ADR = SHARE
ADR Ratio = 2:1
ADR
Types of ADR:
ADR listing:
Unsponsored ADR
NASDAQ
Sponsored ADR
AMEX
Level1
NYSE
ADVANTAGES OF ADR:
GDR MARKET
GDR LISTING
SINGAPORE EXCHANGE
HONGKONG EXCHANGE
GDRs are liquid because they are based on demand and supply
which is regulated by creating or cancelling shares.
ADR
NO
YES
YES
NO
YES
YES
NO
NO
YES
GDR
YES
YES
YES
YES
YES
YES
YES
YES
YES
ETC