International Depository Receipt

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International Depository Receipt (IDR)

A receipt issued by a bank as evidence of ownership of one or more shares of the underlying stock of a foreign corporation that the bank holds in trust. The advantage of the IDR structure is that the corporation does not have to comply with all the issuing requirements of the foreign country where the stock is to be traded. The US version of the IDR is the American Depository Receipt (ADR).

International Depository Receipt

A certificate issued by a bank representing shares of a stock the bank holds in trust but that are traded on a foreign stock exchange. The IDR is denominated in the local currency, and entitles the bearer to any dividends and other benefits associated with the shares. IDRs can be traded like any other security. Using IDRs shields the investor from foreign exchange risk and any applicable tariffs he/she would have had to pay if he/she had bought the stock outright. It also exempts the investor from any requirements the foreign exchange might have levied. It is also known as a global depository receipt (GDR). See also: American Depository Receipt.
References in periodicals archive ?
Ordinary shares of CZP are traded on the Moscow exchange MICEX-RTS under ticker CHZN and Global Depository Receipts (GDR) are traded on the London Stock Exchange under ticker CHZN.
The investment company is listed on Bahraini and London stock markets, where it is traded in the form of global depository receipts.
This pushed companies to acquire global depository receipts (GDR), according to the Abramco Exchange official.
The investment firm is listed in four places: Dubai Financial Market, Bahrain, Kuwait, and London in the form of global depository receipts.
DAMAC will also de-list its global depository receipts (GDRs) from London by mid-March, having bought out 97.
Damac had been offering to convert Damac Real Estate Development Limited (DRED) London-listed Global Depository Receipts (GDRs) for shares on Dubai's main bourse.
Axis Bank s shares are listed on the Indian stock exchanges and its global depository receipts (GDRs) are listed on the London Stock Exchange.
Luxoft Holding, Inc (NYSE: LXFT) said it has been informed by majority shareholder IBS Group Holding Limited that the previously approved scheme of arrangement to reorganize IBS via an exchange of shares and global depository receipts of IBS for shares of Luxoft by public shareholders of IBS became effective on November 7, 2014.
Alba has a primary listing in Bahrain with its global depository receipts trading in London.
DAMAC listed its global depository receipts (GDRs) in London last December and also plans to offer investors the option of GDRs into ordinary shares that would be listed on Dubai's main stock market.
Last week, the property developer offered its Global Depository Receipts holders the option to convert them into ordinary shares that would be listed on Dubai's main Index.
Muscat Fund, managed by the Asset Management division of Bank Muscat, has decided to widen the objective of the fund to invest in IPOs in the Sultanate and Global Depository Receipts (GDRs) in global financial markets related to companies listed on the Muscat Securities Market (MSM).

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