What are Global depository receipts (GDRs)?
Global Depository Receipts (GDRs) are negotiable certificates that usually represents a company’s publicly traded equity. They are also considered as an equity substitute for the local shares that can be used to list on a foreign stock exchange e.g. London, Luxembourg, New York etc. GDRs are often launched for capital raising purposes and they are as liquid as the underlying shares since the two are interchangeable.
