American Depositary Receipts (ADRs)
American Depositary Receipts (ADRs) are used by many non-US companies to easily and efficiently access and trade their shares on the US stock market.
In the US, Heidelberg Materials shares are traded under a sponsored OTC Level I ADR program.
An ADR is an equity interest in a non-US company denominated in US dollars and represents the share of the respective company. The ratio of the number of ADRs to the number of shares is often referred to as the “ADR ratio”.
ADRs are issued by a US custodian bank, for Heidelberg Materials by the Bank of New York Mellon (BNY Mellon), who provides the following services for ADR holders:
- Acting as transfer agent
- Recording and maintaining the register of ADR holders
- Distributing dividends in US dollars
- Facilitating the proxy voting process and exercising the voting rights on behalf of ADR holders
