Depository receipt pricing must match domestic issuance pricing, ensuring no underpriced issuance to foreign depositories. Issuance of permissible securities to a foreign depository for depository receipts must not be at a price lower than the price applicable to the ... Summary
Depository receipt pricing must match domestic issuance pricing, ensuring no underpriced issuance to foreign depositories.
Issuance of permissible securities to a foreign depository for depository receipts must not be at a price lower than the price applicable to the corresponding domestic mode of issuance; preferential allotments and qualified institutional placements to foreign depositories must follow the minimum pricing norms applicable under the ICDR.
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