UK or US investors wanting to buy shares listed in emerging market countries like Russia can face a tough time when there are government restrictions on who can own and trade them. Global depositary receipts (or GDRs) offer a solution.
Instead of trying to buy the share in its local market, the investor typically UK or US - buys a depositary receipt, which represents the shares, instead. These are issued by investment banks, listed in the investor's home market and traded separately from the underlying share.
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