Global depositary receipt

(GDR).

Global Depositary Receipts (GDRs) are negotiable certificates issued by depositary banks which represent ownership of a given number of a company’s shares which can be listed and traded independently from the underlying shares.

GDRs are typically used by companies from emerging markets and marketed to professional investors only.

Also spelled Global Depository Receipt.

See also

• American depositary receipt
• Certificate of ownership
• Custody
• Negotiable instrument
• Stock exchange
• Issuer
• Share