Sponsored ADR

(redirected from Sponsored American Depositary Receipts)

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 ?
Sydney, Australia, Sep 13, 2011 - (ABN Newswire) - Australian listed oil and gas Exploration and Production Company, AusTex Oil Limited (ASX:AOK) (OTCQX:ATXDY), is pleased to announce commencement of trading of its sponsored American Depositary Receipts (ADR) on OTCQX International.
over-the-counter sponsored American depositary receipts (ADRs).
Morgan, as depositary bank, announced today that Wipro Limited (NYSE:WIT), commenced a sponsored American Depositary Receipts (ADR) program on the NYSE, in conjunction with the Company's public offering of American Depositary Shares (ADSs) evidenced by ADRs, at a price of $41 3/8 per American Depositary Share.
In the US, KNP BT's sponsored American Depositary Receipts (ADRs), each equivalent to one ordinary share, trade on the Pink Sheets under the symbol KNBTY.
RTZ's shares are traded on the New York Stock Exchange in the form of sponsored American Depositary Receipts (ADRs).