perry@imsi.com:
Not quite right. ADRs are receipts used to permit the trading of *foreign* securities in American markets. The ADRs will have properties that shield American investors from all sorts of evils like getting warrant issues that aren't registered in the US. There is a new breed of these things called GDRs that I've heard tell of, though I know little about them. Bank of New York may be big in this business
GDRs (Global Depository Receipts) can be traded worldwide. Lots of big Indian companies use them, issuing GDRs that represent split shares and are loosely linked to share prices on Indian markets. ----------------------------------------------------------------------------- For Electric Dreams subscriptions and back issues, send a mail to rishab@arbornet.org with 'get help' as the message Subject. Rishab Aiyer Ghosh rishab@dxm.ernet.in rishab@arbornet.org Vox +91 11 6853410 Voxmail 3760335 H 34C Saket, New Delhi 110017, INDIA