Sponsored ADR

Sponsored ADR

An American Depositary Receipt issued with the knowledge and cooperation of the company whose stock backs it. Unlike other ADRs, which simply give the monetary benefits of ownership, sponsored ADRs are treated just like common stock, complete with voting rights, only denominated in the U.S. dollar. In order for an ADR to trade on the New York Stock Exchange, it must be sponsored. See also: International depositary receipt.
References in periodicals archive ?
Its shares are also traded in the United States on the OTCQX through a sponsored ADR facility.
The bank won the Best Depositary Receipt Mandate Award for Alibaba Group Holding Limited's sponsored ADR programme.
Akebono Brake s international business started with the United States, so we are delighted to establish our new sponsored ADR program with BNY Mellon to expand the opportunity for U.
As an inducement to grant an exclusive arrangement for a sponsored ADR program, a DI may offer to pay a portion of the expenses the issuer incurs to institute the program.
When a company establishes a sponsored ADR program, it appoints a depositary bank who also acts as its U.
Particulars for the US sponsored ADR program are as follows:
In a sponsored ADR, the foreign company cooperates with the depository in order to create the ADR.
Dirk Jones, Citi's Global Head of Securities and Fund Services Client Sales Management, said "We are very pleased to be appointed depositary bank for Fortescue's sponsored ADR programme.
Converting to a sponsored ADR program will facilitate investment in Anglo American from U.
The bank board has also given its domestic shareholders the option to offer their shares to the bank, which can then be offered to overseas investors in a sponsored ADR offering.
It currently offers a sponsored ADR programme in conjunction with Bank of New York Mellon in the U.
The establishment of a sponsored ADR program will create exposure in the broader secondary market for Global Nickel particularly in the United States and Canada, thereby providing better access for North American investors to trade in Global Nickel securities.