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.
- RAYLv 57 years agoFavorite 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