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Answer Posted / vivek ambastha
A Global Depository Receipt or Global Depositary Receipt
(GDR) is a certificate issued by a depository bank, which
purchases shares of foreign companies and deposits it on the
account. GDRs represent ownership of an underlying number of
shares.
Global Depository Receipts facilitate trade of shares, and
are commonly used to invest in companies from developing or
emerging markets.
Prices of GDRs are often close to values of related shares,
but they are traded & settled independently of the
underlying share. mml;l Several international banks issue
GDRs, such as JPMorgan Chase, Citigroup, Deutsche Bank, Bank
of New York. GDRs are often listed in the Luxembourg Stock
Exchange and in the London Stock Exchange, where they are
traded on the International Order Book (IOB). Normally 1 GDR
= 10 Shares, but not always.
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