Yuan Yijun (bbbush) wrote,
Yuan Yijun



American Depositary Receipt - ADR

What does it Mean? A negotiable certificate issued by a U.S. bank representing a specified number of shares (or one share) in a foreign stock that is traded on a U.S. exchange. ADRs are denominated in U.S. dollars, with the underlying security held by a U.S. financial institution overseas. ADRs help to reduce administration and duty costs that would otherwise be levied on each transaction.

Investopedia Says... This is an excellent way to buy shares in a foreign company while realizing any dividends and capital gains in U.S. dollars. However, ADRs do not eliminate the currency and economic risks for the underlying shares in another country. For example, dividend payments in euros would be converted to U.S. dollars, net of conversion expenses and foreign taxes and in accordance with the deposit agreement. ADRs are listed on either the NYSE, AMEX or Nasdaq.

Sponsored ADR
What does it Mean? An American depositary receipt (ADR) that is issued in co-operation with the underlying foreign company whose equity shares will underly the ADR shares. With the corporation's sponsorship, the ADRs created in the issue usually afford their owners the same rights normally given to stockholders, such as voting rights.

Investopedia Says... For an ADR issue to become listed and trade on a major U.S. exchange, it must be sponsored by the underlying corporation. If not, the ADR issue is likely to be traded over the counter.

与此相关的还有 FDI 和 IDR 等等

NEW YORK (CNNMoney.com) - When Lenovo announced early last year that it would buy IBM's personal computer business, the company's shares surged.

But the American depository receipts (ADRs) of the Chinese company have fallen 26 percent since the start of the year, despite what industry analysts view as a largely successful integration of the IBM (down $0.51 to $80.15, Research) PC business.
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