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:
“There is a mountain in the distant West
That, sun-defying, in its deep ravines
Displays a cross of snow upon its side.
Such is the cross I wear upon my breast
These eighteen years, through all the changing scenes
And seasons, changeless since the day she died.”
—Henry Wadsworth Longfellow (1809–1882)