According to the BONY, depositary receipt trading volume on the New York Stock Exchange, the American Stock Exchange and the NASDAQ is projected to reach 31 billion shares, valued at $770 billion this year. While dollar volume declined over last year, depositary receipt share trading increased.
Year-to-date some 135 new public and private depositary receipt programs were established by companies from 29 countries, compared to 182 programs from 38 countries last year.
Non-US companies and governments from 16 countries have raised $8.4 billion through 26 depositary receipt offerings year-to-date, compared to $29 billion raised last year with 115 offerings from 32 countries.
Companies in the UK, Finland and the Netherlands had the greatest depositary receipt trading volume year-to-date 2001, with programs with the highest volume of depositary receipt trading activity from the telecommunications sector. In order of volume, these were:
– Sweden’s Ericsson
– Finland’s Nokia, and
– Vodafone in the UK
According to data from BONY, by region,
- companies from nine countries in the Asia Pacific region established 41 new programs to date,
- companies in 14 countries in the European region established 66 new programs, and
- companies from three countries in the Latin America region established 18 new programs