securities that represent foreign shares of a foreign company - require a corresponding number of foreign shares to be held in custody at a depositary bank
. The practice of "pre-release" allows ADRs to be issued without the deposit of foreign shares provided brokers receiving them have an agreement with a depositary bank
and the broker or its customer owns the number of foreign shares that corresponds to the number of shares the ADR represents.
as successor depositary bank
for its American Depositary Receipt programme.
Global Banking News-August 9, 2018-Citi appointed depositary bank
for ADR program of Cango
Citigroup Inc's (NYSE: C) Issuer Services business, acting through Citibank, NA, has been appointed by Cayman Islands-based Cango Inc (Cango), as the depositary bank
for its American Depositary Receipt (ADR) programme.
An ADR is a receipt that is issued by a depositary bank
that represents ownership of a company's underlying shares.
11 May 2011 - US investment bank Citigroup (NYSE:C) said that its Global Transaction Services unit would act as depositary bank
for Chinese social networking Internet platform operator Renren (NYSE:RENN).
Global Banking News-December 23, 2010--JP Morgan appointed depositary bank
by ShangPharma(C)2010 ENPublishing - http://www.enpublishing.co.uk
International Resource News-9 October 2009-BNY Mellon selects Pampa Energia acts as depositary bank
for ADR(C)2009 ENPublishing - http://www.enpublishing.co.uk
JP Morgan said it has been appointed the successor depositary bank
for the American Depositary Receipt (ADR) program of TNT, the Netherlands-based international express and mail company.
Morgan & Co., New York, as depositary bank
, has announced that Grupo Industrial Saltillo, S.A.
They are issued by a depositary bank
, which holds the company shares backing the ADRs.