Several approvals are required for Issuance of ADRs/GDRs. Prepare the list of such approvals.
CS Professional · Corporate Funding & Listings in Stock Exchanges · PYQS · December 2024
Several approvals are required for Issuance of ADRs/GDRs. Prepare the list of such approvals.
Answer & Explanation:
Several approvals are required for Issuance of ADRs/ GDRs. A list of such approvals are as under: Approval of Board of Directors Approval of Shareholders Approval of Ministry of Finance 'In-Principle and Final' In-Principle consent of stock exchange for listing of underlying shares In-Principle consent of Financial Institutions
Topics: Global Depository Receipts (GDRs) / American Depository Receipts (ADRs)
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