Asia remains a very attractive market for ADRs American Depositary Receipts, says Citibanks global head of Depositary Receipt Services, Kurt Schneiber. Citi is one of three firms that dominate the ADR business the other two being JP Morgan and Bank of New York.
Schneiber, whose experience in Asia has included a stint in India, says that last year was the best ever for ADR growth. Capital raised using ADRs reached $30 billion, up 38% over 1999. Trading volume in ADRs also surged 64% to $1.1 trillion.
US investors hold $1.7 trillion of foreign equities and 42% of that is in ADR format. Thats up from 20% a mere...
