Which of the following is NOT correct regarding ADRs?
A) The ADR market is deep and liquid.
B) An ADR facility can be established for private placement of new shares in accordance with Rule 154A of the Securities Act 1963.
C) A depository share is generally composed of more than one share of the foreign issuer.
D) Currently there are a large number of depository receipts, traded in many countries.
Correct Answer:
Verified
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