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{{Financial markets}}
An '''American depositary receipt''' ('''ADR''', and sometimes spelled ''deposit'''o'''ry'') is a [[Negotiable instrument|negotiable security]] that represents securities of a non-U.S. company that trades in the U.S. [[financial markets]].<ref>
Shares of many non-U.S. companies trade on U.S. [[stock exchange]]s through ADRs, which are denominated and pay [[dividend]]s in [[U.S. dollars]] and may be traded like regular shares of stock.<ref>{{cite news |author = Sikonathi Mantshantsha |title = American Depositary Receipts: Foreign investment made easy| work= [[Financial Mail]] |date=22 March 2013}}</ref> ADRs are also traded during U.S. [[List of stock exchange opening times|trading hours]], through U.S. [[broker-dealer]]s. They simplify investing in foreign securities by having the depositary bank "manage all custody, currency and local taxes issues".<ref>{{cite web|title= How an ADR Works and the Value for Companies & Investors |url = http://www.otcmarkets.com/learn/american-depositary-receipts | publisher= [[OTC Markets Group]]| accessdate=18 March 2015}}</ref>
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==Example==
In 2013 a [[China]]-based company composed of various [[Offshore company|offshore]] [[holding companies]] called Autohome (ATHM) offered 7,820,000 American depositary shares (ADSs) representing its 7,820,000 Class A Ordinary Shares from its [[initial public offering]].<ref>{{cite web|url=http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001193125-13-469670.txt&FilePath=
==See also==
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