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"Companies don’t need the US for capital but they may want to have their depositary receipts traded there for other reasons"
Michael Cole-Fontayn, The Bank of New York Mellon |
Although many companies from developed countries are currently reassessing the value of their secondary listings, the case for companies from emerging markets making use of such listings is pretty clear, according to a recent study by economic consultancy Oxford Metrica and the Bank of New York Mellon.
The study, which looked at the American depositary receipt and global depositary receipt programmes of 628 firms since 1980, found that on average such programmes...
