From: rishab@dxm.ernet.in
Date: Sun, 29 Jan 95 23:44:48 PST
To: cypherpunks@toad.com
Subject: GDRs
Message-ID: <gate.smqkZc1w165w@dxm.ernet.in>
MIME-Version: 1.0
Content-Type: text/plain


perry@imsi.com:
> Not quite right. ADRs are receipts used to permit the trading of
> *foreign* securities in American markets. The ADRs will have
> properties that shield American investors from all sorts of evils like
> getting warrant issues that aren't registered in the US. There is a
> new breed of these things called GDRs that I've heard tell of, though
> I know little about them. Bank of New York may be big in this business

GDRs (Global Depository Receipts) can be traded worldwide. Lots of big Indian
companies use them, issuing GDRs that represent split shares and are loosely
linked to share prices on Indian markets.


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Rishab Aiyer Ghosh          rishab@dxm.ernet.in           rishab@arbornet.org
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