Multiple choice

A bank authorized by the issuing company to issue GDR against issue of foreign currency convertible bonds or ordinary shares for the issuing company, is called

  1. custodian bank

  2. depository

  3. overseas depository bank

  4. mandated bank

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A bank authorised by the issuing company to issue GDRs/ADRs against the issue of FCCBs/ordinary shares of the issuing company is known as an ODB, overseas depository bank.