When Sistema,a Russian company,issued a U.S.dollar stock offering in London,its shares were classified as a(n)________.
A) Global Depositary Receipt
B) American Depositary Receipt
C) European Depositary Receipt
D) International Depositary Receipt

Question

Quizplus · Accepted Answer

A Global Depositary Receipt (GDR) is a financial instrument that represents the ownership of a company's shares, traded on a foreign stock exchange, in the form of a certificate. The GDRs are traded and settled in a currency other than the currency of the underlying shares. In the given scenario, Sistema, a Russian company, issued a U.S. dollar stock offering in London, which means that the company's shares were listed on the London Stock Exchange and traded in the form of Global Depositary Receipts. Therefore, the correct answer is A) Global Depositary Receipt.

When Sistema,a Russian Company,issued a U