Cross Listing
Cross listing of shares is when a firm lists its equity shares on one or more foreign stock exchange in addition to its domestic exchange. Examples include: American Depository Receipt (ADR), European Depository Receipt (EDR), International Depository Receipt (IDR) and Global Registered Shares (GRS).
Generally such a company's primary listing is on a stock exchange in its country of incorporation, and its secondary listing(s) is on an exchange in another country. Cross-listing is especially common for companies that started out in a small market but grew into a larger market. For example, numerous large Canadian companies are listed on the New York Stock Exchange or NASDAQ as well as the Toronto Stock Exchange such as Enbridge and Research In Motion. Some organizations, such as Liberty Media, Comcast and Viacom, have multiple listings reflecting different voting rights.
Read more about Cross Listing: Motivations For Cross-listing, Costs of Cross-listing, What Do Managers Say?, Do Cross-listings Create Value?
Famous quotes containing the word cross:
“How have I been able to live so long outside Nature without identifying myself with it? Everything lives, moves, everything corresponds; the magnetic rays, emanating either from myself or from others, cross the limitless chain of created things unimpeded; it is a transparent network that covers the world, and its slender threads communicate themselves by degrees to the planets and stars. Captive now upon earth, I commune with the chorus of the stars who share in my joys and sorrows.”
—Gérard De Nerval (1808–1855)