(1) About 481 overseas companies have issued depositary receipts and are listed on the US bourses.(2) According to the Securities and Future Commission, a total of US $4.4 billion has been raised over the last eight months by Taiwanese companies through the issuance of global depositary receipts.(3) The Taipei-based financial group sold 170 million shares in the form of global depositary receipts, it said in a statement to the Taiwan Stock Exchange.(4) In its July 9 filing, the company said it expected net proceeds of US $1.06 billion from the sale, based on a price of US $16.50 per US depositary share, after expenses and commissions.(5) In the last two weeks, the commission approved several issues of Bulgarian depositary receipts, and bonds.(6) One US depositary receipt is equivalent to five common shares.(7) The announcement was first made in the US, where the company's US depositary receipts trade, at around 5.30 am Taipei time.(8) Last spring the government proposed selling shares to overseas investors via depositary receipts on the New York Stock Exchange.(9) The company is today marketing 700 million shares in the form of global depositary receipts to investors in Hong Kong and Singapore before heading to Europe and the US, said the banker who declined to be identified.(10) In the past year Russian companies have raised more than u00a32.5 billion through the sale of global depositary receipts in Britain.(11) Some 1.2 million shares, depositary receipts and bonds changed hands for a weekly total of over 12 million leva.(12) Ratification takes place by an exchange of instruments or, in the case of multilateral agreements, by deposit with a designated depositary .(13) Most of the deals on the free segment of the market were for depositary receipts.(14) The shares will be sold in the form of global depositary receipts.(15) American depositary receipts can simplify the access of U.S. investors to foreign markets.(16) Earlier this month, the company failed to sell 1.4 billion new shares through a global depositary receipt issuance to potential foreign investors, due to overly low offers from the interested bidders.
