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Biotech / Medical : Oxford GlycoSciences Plc
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To: scaram(o)uche who wrote (287)12/28/2002 1:56:18 PM
From: keokalani'nui  Read Replies (1) of 469
 
>>what does it take to create an ADR? Is there a process to convert non-ADR shares into ADRs or vice versa, or is the relative ratio fixed, period<<

It takes a US bank to sponsor the ADR. BNY is the largest adr sponsor/trader/MM (BNY, sounds familiar). There is no right to convert into ordinary shares. And the ratio is fixed, though could presumably be changed by the sponsoring Bank to effect a reverse.

If the company decides to pull the plug on the US adr, the US holder likely would be forced to liquidate.
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