April 2008
Depository receipts back in favour
Download the article from
http://www.citi.com/transactionservices/homepage/securitiesfunds/dep_rec_bk.pdf
Jul/Aug 2007
2,000th sponsored DR
Russia's state-controlled Vneshtorgbank (VTB) raised nearly $8 billion in its sale of a 22.5% stake in the company, making it Russia's seventh-largest company by market capitalization. VTB selected The Bank of New York as the depositary bank for its global depositary receipt program. Each GDR represents 2,000 of VTB's ordinary shares.
The GDRs, which trade on the London Stock Exchange,were the 2,000th sponsored DR program available to investors worldwide, according to The Bank of New York. They also were the largest DR offering ever from a bank, the second-largest DR offering from a Russian issuer and the second-largest DR offering in history, following Rosneft oil's $6.4 billion initial public offering in DR form in July 2006.
Global Finance Media Inc. Jul/Aug 2007
http://findarticles.com/p/articles/mi_qa3715/is_/ai_n19510848
November 6, 1994
Recognizing the growth of the market, the London Stock Exchange said in August1994 that it would begin allowing G.D.R.'s to be listed, much as big exchanges in the United States have long listed A.D.R.'s. East India Hotels was the first G.D.R. in London.
World Markets; Depository Receipts: Now, the World
By RICHARD W. STEVENSON, Published: November 6, 1994
New York Times
http://query.nytimes.com/gst/fullpage.html?res=9C02E4D6143EF935A35752C1A962958260&sec=&spon=&pagewanted=all
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