depositary receipt


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depositary receipt

A negotiable certificate that represents a company's publicly traded debt or equity. Depositary receipts are created when a company's shares or bonds are delivered to a depositary's custodian bank, which instructs the depositary to issue the receipts. Depositary receipts facilitate trading of foreign securities. See also American Depositary Receipt, American Depositary Share.
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The Bank of New York, a global leader in securities servicing, has been selected as successor depositary by CRH plc for its American depositary receipt (ADR) program.
Building firm taps B of NY as successor depositary

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