An ADC allows to trade foreign registered shares on the Vienna Stock Exchange.
Making registered securities tradeable in Vienna
By issuing a bearer security which conveys the rights deriving from the registered security, foreign companies are able to tap the liquidity of the Austrian capital market otherwise potentially not available to registered securities.
Depositary receipt-models: established international practice
Comparable services, such as American Depositary Receipts in the US, have been internationally established for decades. Austrian Depositary Certificates were introduced to the Austrian market during the 90's of the last century. Currently ADC-programs exist for the following companies:
- IBUSZ RT.
- AI AIRPORTS INTERNATIONAL LTD.
- PI INTERNATIONAL POWER LTD.
- CENTURY CASINOS INC.
- CENTRAL EUROPEAN FRANCHISE GROUP LTD.