American depositary share
||It has been suggested that this article be merged into American depositary receipt. (Discuss) Proposed since November 2011.|
|This article does not cite any references or sources. (December 2009)|
Foreign corporations listed in other markets are not permitted to make direct secondary listings in the United States markets, thus this form of indirect ownership has been devised.
ADSs are US-dollar denominated and each share represents one or more underlying shares in the subject. These ADSs confer full rights of ownership (including dividends, voting rights) to these underlying shares, which are held on deposit by a custodian bank in the company's home country or territory.