Depositary Receipts Round-up: 1995 Review

Feb 01, 1996
<p>One might think an off-year for emerging markets would be an off-year for ADRs. Not so, say the 1995 numbers issued by the ADR depositary banks</p>
According to data from Bank of New York, one of three depositaries producing comprehensive statistics, some 10 bn shares worth $278 bn changed hands in 1995, a 37 per cent increase over trading volume and a 12 per cent increase in dollar volume over 1994. Yet

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