|
Croatia, Morocco, Egypt and Lithuania usually only rub shoulders in the horse-trading for rotating seats on the UN Security Council or in the preliminary qualifying rounds of the World Cup. What they have in common this year, however, is that companies from these four countries have issued global depositary receipts (GDRs) for the first time. These issues illustrate the growing importance of the GDR market. Global depositary receipts accounted for around a quarter of total depositary receipt (DR) issuance in the first nine months of this year, with a further two thirds in the form of American depositary receipts (ADRs) and the remainder in either Rule 144A issues or European depositary receipts. |
Thanks for your interest in Euromoney!
To unlock this article:
