| Most active ADR programmes (value) Jan to May 1998 | |||||
| Issuer | Exchange | Country | Value ($ bn) | ||
| 1. | Telebrás |
NYSE |
Brazil |
38 |
|
| 2. |
Ericsson |
Nasdaq |
Sweden |
16 |
|
| 3. |
Royal Dutch Petroleum |
NYSE |
Netherlands |
12 |
|
| 4. |
Telmex |
NYSE |
Mexico |
10 |
|
| 5. |
Nokia |
NYSE |
Finland |
9 |
|
| 6. |
SmithKline Beecham |
NYSE |
UK |
9 |
|
| 7. |
BP |
NYSE |
UK |
6 |
|
| 8. |
ASM Lithography |
Nasdaq |
Netherlands |
6 |
|
| 9. |
Philips |
NYSE |
Netherlands |
5 |
|
| 10. |
Unilever |
NYSE |
Netherlands |
5 |
|
| Source: Citibank | |||||
Since 1927, when the first American depositary receipt was launched by JP Morgan for UK department store Selfridges, thousands of non-US companies have used ADRs to list in New York.