Fresenius Medical Care ADR (American Depositary Receipt) shares trade on the NYSE. The first trading day on the NYSE for the common ADRs was October 1, 1996.
An ADR is a negotiable U.S. certificate representing ownership of shares in a non-U.S. corporation. Two ordinary ADRs correspond to one ordinary share of Fresenius Medical Care. ADR holders are entitled to all dividends, which will be distributed in U.S. dollars. Other distributions and rights pertaining to the underlying Fresenius Medical Care shares will be made available to ADR holders if applicable. Fresenius Medical Care ADRs are quoted in U.S. dollars and are traded on the NYSE in the same fashion as U.S. stock. ADRs facilitate the process for U.S. investors to invest in Fresenius Medical Care.
ADR Issuers with a listing on a U.S. stock exchange must comply with the registration and reporting requirements of the Securities and Exchange Commission (SEC). This entails, among other things, the filing of a Form 20-F on an annual basis, and full compliance with the Sarbanes-Oxley Act of 2002.