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what is gdr
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Answer / nikhilesh yadav
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 Global Depositary Receipt are often close to
values of related shares, but they are traded and settled
independently of the underlying share.
Several international banks issue GDRs, such as JPMorgan
Chase, Citigroup, Deutsche Bank, Bank of New York. GDRs are
often listed in the Frankfurt Stock Exchange, 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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Answer / s.c.bhalla
GDR means a foreign currency denominated instrument ,whether listed on an international exchange or not,issued by a foreign depository in a permissible jurisdiction on the back of permissible securities issued or transferred to that foreign depository and deposited with a domestic custodian
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