Sponsored ADR

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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 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 ?
Level 1 depositary receipts are the first level of sponsored ADRs that can be issued and may only be traded on the OTC market.
76, its sponsored ADRs in Gazprom were sold for USD259,997.
Sponsored ADRs have one depositary bank that is appointed by the issuer who pays a fee to the depositary bank.
In the same year 165 new sponsored ADR programs were established, compared to 52 in 19881.

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