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In 2008, an SEC rule change made it possible for depositary banks to create U.S.-traded instruments of foreign companies without the sponsorship of the companies themselves. These instruments ...
Unsponsored shares trade on the over-the-counter (OTC) market. These shares are issued in accordance with market demand, and the foreign company has no formal agreement with a depositary bank. Unsponsored ADRs are often issued by more than one depositary bank. Each depositary services only the ADRs it has issued.
There are important differences between ADRs and traditional stocks that investors should be aware of.
A depositary receipt typically requires a company to meet a stock exchange’s specific rules before listing its stock for sale. For example, a company must transfer shares to a brokerage house in its home country. Upon receipt, the brokerage uses a custodian connected to the international stock exchange for selling the depositary receipts ...
Does UniCredit S.p.A. Unsponsored ADR (UNCRY) have what it takes to be a top stock pick for momentum investors? Let's find out.
Alfa Laval AB Unsponsored ADR (ALFVY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 2 (Buy).
EssilorLuxottica Unsponsored ADR (ESLOY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
NuCana PLC Sponsored ADR (NCNA) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.