Difference between Dual listing & ADR

Off late we are hearing a lot about “Dual Listing” because of Bharti – MTN acquisition. Before telling the difference let me explain what both terms mean?

What is Dual Listing?

Dual Listing means listing of shared of merged entity in Stock market of two countries. In Bharti – MTN case if the deal would have gone through they would be listed in Indian Stock Market & South African Stock market as separate legal identities with a common management.

What is ADR?

ADR stands for American Depositary Receipt where in a US bank buys Shares of a company in lots and trades them in US Stock Exchange. A buyer can convert ADR’s into shares and trade it within US bourses.


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