An American depositary receipt (ADR) is essentially a certificate ... it may do so at a 1:1 ratio, meaning that each ADR share is equivalent to one share of the foreign company’s stock.

Depositary receipts are certificates that represent shares in a public company but are available only in a foreign market so ...

How American depositary receipts work. Advantages of American ... says Brock. Even though ADRs mean U.S. investors don't have to deal with converting currencies themselves, the bank issuing ...