香港預託證券機制的簡介(只供英文版)(2008年8月)

By:MatthewHarrison,Research&CorporateDevelopment,HKEXBonnieChan,Listing,HKExHONGKONGDEPOSITARYRECEIPTS(HDRs)Seminaron17September2008AtHongKongSecuritiesInstituteAGENDAPageNatureofDRs32.GlobalDRlandscape7WhyHDRs?14HDRframework16HDRoperations25AppendixFurtherdetailsonHDRoperationsHongKongDepositaryReceipts(HDRs)1.NatureofdepositaryreceiptsDRsarereceiptsissuedbyadepositaryrepresentingunderlyingsharesofacorporationwhichhavebeendepositedwiththedepositaryoritsnominatedcustodian.HongKongDepositaryReceipts(HDRs)IssuanceofDRsIssuanceofsharesDRholdersShareholdersCorporationDepositaryCorporationDRsSharesSharesIssuanceofshares:governedbylocalstatuteandcorporation’sM&A.IssuanceofDRs:governedbydepositagreement.HongKongDepositaryReceipts(HDRs)1.NatureofdepositaryreceiptsIssuanceofDRsIssuanceofsharesDRholdersShareholdersShares