Topic - Depositary Receipts (ADR/GDR)
African DRs: listen and learn
BNY Mellon aims to educate the market with a new addition to its African depositary receipts team.
Orascom looks to issue first EDR
Orascom Development, the Egyptian real estate company, is looking to issue the first-ever Egyptian depository receipt (EDR). The company is working with EFG Hermes and the Bank of New York Mellon to arrange the issue later this year.
RusHydro lists GDRs on LSE
RusHydro, the world’s largest publicly traded hydro generational company, has listed on the London Stock Exchange (LSE), making it the first GDR listing on the LSE since February. Bank of New York Mellon is the depository bank.
Banks race to raise billions in new capital
US banks are scrambling to raise billions of dollars in equity, in order to pay back funds they have borrowed from the US government. Investors, meanwhile, have regained faith in financial stocks.
