Q: I own shares in Volkswagen. I have received a corporate action notice advising that they are cancelling the Ordinary share sponsored ADR program. I have the option to either receive 2 Unsponsored ordinary share ADRs for each Sponsored ordinary share ADR exchanged or exchange 5 ADRs plus pay any charges or fees per ADR to receive one ordinary share of Volkswagen AG.
Why would a company terminate sponsored ADRs? Would it be better to reveive Unsponsored ADRs or Ordinary shares?
Why would a company terminate sponsored ADRs? Would it be better to reveive Unsponsored ADRs or Ordinary shares?