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Presto change-o, Taiwan GDRs can now be ADRs

Following a fair amount of ‘liaising’ work by BNY Mellon, Taiwan’s Financial Supervisory Commission has agreed to allow existing Taiwan GDRs to be treated as level one ADRs without special approval from the commission. Level one ADRs are denominated in US dollars and trade in the US over-the-counter markets. They do not require the company to be registered as a…

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