Global depository 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.

See also

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