Global Depositary Receipts
Global Depositary Receipts (GDRs) give issuers exposure to the global markets outside their home market.
Depositary receipts are negotiable certificates issued by a bank to represent the underlying shares of stock. The underlying shares are held in trust at a foreign custodian bank. GDRs refer to certificates traded outside the US.
Even though they may not be listed in US exchanges, GDRs are generally denominated in US dollars.