Dr Reddys ADRs get secondary listing on NSE IFSC
On 09 December 2020
Dr Reddys Laboratories announced the secondary listing of its American Depository Receipts (ADRs) on NSE IFSC under the symbol 'DRREDDY' on 09 December 2020.The said listing will provide a secondary platform (other than NYSE Inc.) to overseas investors for trading in Dr Reddys ADRs. This is a secondary listing of ADRs that are currently issued by J.P. Morgan Chase Bank N.A. under its ADR Deposit agreement with Dr Reddys, and no further capital raising or issuance of new securities is involved.
The clearing and settlement of ADRs will be done by NSE IFSC Clearing Corporation through depository account maintained with Clearstream using Internal (Clearstream to Clearstream), Bridge (Clearstream-Euroclear) and Clearstream Domestic links to American market for settlement with Depository Trust Company (DTC) US settlement systems.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Dec 09 2020 | 2:40 PM IST