Global depository receipt

(GDR).

Global Depository Receipts are negotiable certificates issued by depository banks which represent ownership of a given number of a company’s shares which can be listed and traded independently from the underlying shares.

GDRs are typically used by companies from emerging markets and marketed to professional investors only.

Also spelled Global Depositary Receipt.

See also

• American depository receipt
• Certificate of ownership
• Custody
• Issuer
• Negotiable instrument
• Share
• Stock exchange