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An overview of depository receipts : ADR, GDR and IDR

Lakshminarayan C

An overview of depository receipts : ADR, GDR and IDR - BangaloreBangalore NLSIU 2008 - 113 p. ; 25 cm.

TABLE OF CONTENT Table of Statute; Table of Abbreviations; Chapter I Introduction; Chapter II Depository Receipts; 2. Introduction; 2.2 What Are Depository Receipts; 2.3 Types of Depository Receipts Programmes; 2.4 Selling DR; 2.5 Acquiring ADR; 2.6 How DR Mechanism work; 2.7 DRS Are Freely Transferable; 2.8 Benefits To A Company; 2.9 Benefits to an Investor; 2.10 Types of DR; 2.10.1 Unsponsored Depositary Receipts; 2.10.2 Sponsored Depositary Receipts; 2.10.3 Sponsored Level I Depositary Receipts; 2.10.4 Sponsored Level II and Sponsored level III Depositary Receipts; 2.11 Depositary Receipt Equity Offering Mechanics; 2.11.1 Initial Public Offerings (IPO's); 2.11.2 Liquidity and investor demand; 2.11.3 Investor psychology; 2.13 Conclusion; Chapter III American Depository Receipts; 3.1 Introduction; 3.2 History and Background; 3.3 Definition; 3.4 Legal Framework For ADR's; 3.5 Kinds of Banks Involved; 3.6 How ADRs Work; 3.7 Pricing And Cross Trading; 3.8 Sequence of steps required to create an ADR.; 3.9 Sponsored and unsponsored ADR; 3.9.1 Level I ADR; 3.9.2 Level II ADR; 3.9.3.Level III ADR; 3.9.4. Rule 144A ADRs; 3.10 Advantages Of ADR; 3.10.1 Advantages for Issuers; 3.10.2 Advantages for Investors; 3.11 Risks Involved; 3.12 Conclusion; Chapter IV Global Depository Receipts; 4.1 Introduction; 4.2 Background; 4.3 Definition; 4.4 Why Do Companies Launch GDR Programs?; 4.5 Two Different GDR Structures; 4.6 Advantages of GDRs; 4.7 Disadvantages of GDRs; 4.8 Issue of Global Depository Receipts; 4.9 Tax on dividends on GDRs and gains on their transfer; 4.10 Whether gains on transfer of GDRs can be said to arise; 4.11 What would be the situs of GDRs; 4.12 Conclusion; Chapter V Indian Depository Receipts; 5.1 Introduction; 5.25.2 Salient features of IDRs; 5.3 Suggestions to Foreign companies to issue IDR's; 5.4 Corporate Governance & Disclosure Adherence; 5.5 Conclusion; Chapter VI Present Scenario; 6.1 Introduction; 6.2 Depository Receipts Establishment; 6.2.1 Sponsored Level I DRs; 6.2.2 Total Sponsored DRs; 6.2.3 New DR Capital Raised; 6.2.4 Investment in DRs; 6.3 Market update of DR in India; 6.4 Tata Steel mulls USD Global Depositary Receipt; 6.5 ADRlGDR Holders Have No Voting Rights; 6.6 World Leader in Depositary Receipts; 6.7 Global Depositary Receipts (GDRs) Of Bank Of Cyprus Public Company Ltd; 6.8 Conclusion; Chapter VII Comparison between ADR, GDR AND IDR; 7.1 Introduction; 7.2 ADR vis-it-vis GDR;; 7.3 Benefits of ADR over GDR 7.4 Comparison of ADRs and GDRs and IDRs; 7.5 How are IDRs different from GDRs and ADRs?; Chapter VIII Conclusion; 8.1 Unreasonableness and Irregularity of Rules; 8.2 Suggestions; Abbreviations; Bibliography; List of Statutes.


American Depositary Receipt, Global Depositary Receipt, Indian Depositary Receipt