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Global Depositary Receipt (GDR) Overview

Yapay zekadan makale özeti

Definition and Structure: GDR is a negotiable bank certificate representing foreign company shares
Shares remain on deposit with depositary bank in international country
Typically trades on multiple global stock exchanges
Nearly always denominated in U.S. dollars
Key Features: Enables companies to access international capital markets
Provides arbitrage opportunities through price tracking
Offers lower costs than foreign securities trading
Allows U.S. investors to own foreign stocks
Advantages and Disadvantages: Provides international portfolio diversification
Offers domestic dividend payments
May have significant administrative fees
Subject to currency and political risks
Comparison with ADRs: GDRs trade on multiple global exchanges
ADRs only trade on U.S. exchanges
GDRs allow companies to list in multiple countries
ADRs can be sponsored or unsponsored