Depositary receipt programmes - an overview of DRs and the pros and cons of common types of DR programme

Breakfast seminar

November 16, 2017

In this breakfast briefing we will be discussing depositary receipt programmes and their relative advantages and disadvantages.

Areas covered will include:

  • the principal listing and trading options for GDRs in London and ADRs in the US
  • the differences between sponsored and unsponsored programmes, Rule 144A/Regulation S, Level 1, Level 2 and Level 3 American Depositary Receipt programmes
  • an overview of key documentation and listing requirements
  • the use of Exxon Capital exchange offers in accessing the US public markets
  • managing the liability risk associated with depositary receipt programs

Following the seminar there will be a Q&A session

Programme

08:15

Registration

08:30

Presentation

09:15

Q&A

Contacts