Travel tips from ADR issuers
It all depends on who you talk to. Some would fervently defend the advantages of the American Depositary Receipts, while others say the good times are over and ordinary shares make more sense. The figures seem to support the latter assertion: out of the $1.6 bn Americans invested in foreign equities last year, 40 percent was in ADRs with the remainder in ordinary shares, according to Citibank.Spanish utilities company Endesa confirms the trend, with 80 percent of its US shareholders trading
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