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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (5150)	7/16/1999 1:59:00 PM
From: Nandu	Read Replies (1) of 12475

Found this at J.P. Morgan's site adr.com in an FAQ. How do I convert my underlying shares into ADRs? You can transfer your underlying shares to J.P. Morgan's custodian bank in the issuer's home country. On receipt of the underlying shares, Morgan will issue ADRs representing the newly deposited shares to you. How do I convert my ADRs into underlying shares? Instruct your broker to cancel the ADRs, and provide him or her with complete delivery instructions in the issuer's home country. This is specific to ADRs issued through JP Morgan, but there must be something similar for all ADRs. Ratan, remember that there are restrictions on how many shares foreigners can buy of Indian shares. This is probably why arbitrageurs hasn't closed this gap. I am hoping there will be a loophole for NRIs.

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