___ asked in Business & FinanceInvesting · 7 years ago

can my broker convert foreign shares to NYSE/ADR shares of the same company?

I know this can be done for US-Canada dual-listed companies, but I'm not sure about non-North American companies, eg Asian companies.

1 Answer

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  • RAY
    Lv 5
    7 years ago
    Favorite Answer

    No. The ADR sponsor converts ordinary shares into ADRs.

    A broker would have to sell shares and buy ADRs in the market.

    An ADR is not a share, it is a piece of paper (Receipt) representing shares of a company, usually on a higher ration than 1:1

    The whole point of an ADR is to make the shares available to a different country's residents.

    For example US citizens can't trade Vodafone shares but can buy or sell Vodafone ADRs

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