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Sponsored American Depositary Receipt

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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 themonetary 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.
sponsored American Depositary Receipt
An American Depositary Receipt in which the company whose shares are held in custody has direct involvement in issuance of the ADRs. The foreign company registers the receipts with the Securities and Exchange Commission and chooses a single depositary bank. Holders of sponsored ADRs have all the rights of common stockholders, including the right to receive reports, the right to vote, and the right to receive dividends. Compare unsponsored American Depositary Receipt.
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Saltillo, Mexico, has launched a sponsored American depositary receipt (ADR) facility traded on the OTC market, according to Business Wire.
Mexican Foundry Group Launches ADR by Modern Casting
ACOM) for its sponsored American depositary receipt (ADR) program.
The Bank of New York Appointed by ACOM CO., LTD. as Depositary Bank by Business Wire
NEW YORK -- The Bank of New York, a global leader in securities servicing, has been selected by Japan Airlines Corporation (JAL) as depositary for its sponsored American depositary receipt (ADR) program.
The Bank of New York Appointed as Depositary by Japan Airlines ... by Business Wire
 
 
 
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