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 ?
Global Banking News-October 16, 2017--Citi to serve as depositary bank for RYB Education's sponsored ADR program
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.
This is the simplest form of sponsored ADR, which means that it is a non-capital raising activity and MPIC will not have the benefit of listing on the US stock exchange.
Particulars for the US sponsored ADR program are as follows:
SMTH's sponsored ADR programme succeeds STB's existing sponsored ADR programme, for which BNY Mellon served as the depositary bank.
NORDIC BUSINESS REPORT-1 March 2010-Danish Carlsberg establishes sponsored ADR programme in USA(C)1994-2010 M2 COMMUNICATIONS http://www.
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.
BANKING AND CREDIT NEWS-October 16, 2017-Citi named depositary bank for RYB Education's sponsored ADR program
M2 EQUITYBITES-October 16, 2017-Citi named depositary bank for RYB Education's sponsored ADR program