| 释义 |
unsponsored American Depositary Receipt Unsponsored American Depository ReceiptAn American Depository Receipt issued without the knowledge or cooperation of the company whose stock backs it. Unlike other sponsored ADRs, which are treated just like common shares denominated in the U.S. dollar, an unsponsored ADR simply gives the monetary benefits of ownership. That is, the bank issuing the ADR pays out dividends as if it were common stock, but the ADR does not carry voting rights. Unsponsored ADRs may not be traded on the New York Stock Exchange, and are usually traded over-the-counter. See also: International depositary receipt.unsponsored American Depositary Receipt An American Depositary Receipt representing shares of a foreign company not directly involved in issuance of the ADR. Unsponsored ADRs are originated by a bank(s) that independently purchases the foreign firm's shares, holds the shares in trust, and sells the ADRs through brokerage firms. The depositary bank rather than holders of the ADRs retains the right to vote shares held in trust. Compare sponsored American Depositary Receipt. |