The List of Terminated ADRs 2014

Foreign companies listed on the US markets may terminate their American Depository Receipts(DRs) for a variety of reasons including lack of liquidity, interest, costs, etc. This is different from a company moving their listing from an organized exchange such as the NYSE to OTC market. In such cases the ADR will continue to trade but just the ticker and the trading market will be different. For example, recently French firm Veolia Environnement moved from NYSE to the OTC market. The ticker changed from VE to VEOEY.

When a foreign company terminates its ADR program, then investors usually have two options: either they can cash in their holdings thru the depository in charge of the DR program or request the underlying shares so that the investor can continue to hold equity in the company. If the second option is available then the investor will end up owning the ordinary shares that trade on the domestic market of the foreign company. To illustrate this scenario, in October this year Israel Chemicals Limited  that used to trade on the OTC market under the ticker ISCHY decided to terminate its DR program. ADR holders were given the two options mentioned above. The company trades on the Tel Aviv Stock Exchange under the ticker ICL.

As the year comes to an end some investors may find that their foreign stock is not trading any more on the US markets. There is no need to get worried. It may be possible that the foreign firm may have terminated its DR program. You can check the table below to see if the company terminated its ADR. If not, it is possible that the ticker may have changed.

The following is a list of foreign companies that terminated their DR programs in 2014:

S.No.CompanyTickerExchangeCountryTermination Date
1ChinaEduCEDUNASDAQChinaMay 30, 2014
2EdwardsEVACNASDAQUnited KingdomMar 17, 2014
3GentiumGENTNASDAQItalyApr 13, 2014
4AFP ProvidaPVDNYSEChileSep 19, 2014
5China HydroelectricCHCNYSEChinaAug 18, 2014
6Noah EducationNEDNYSEChinaAug 29, 2014
7Simcere PharmaceuticalSCRNYSEChinaFeb 03, 2014
8Africa Israel InvestmentsAFIVYOTCIsraelJun 04, 2014
9AlgetaALGZYOTCNorwayApr 01, 2014
10AmecAMCBYOTCUnited KingdomOct 01, 2014
11AntisomaATSMYOTCUnited KingdomJul 31, 2014
12Asciano LimitedAANOYOTCAustraliaFeb 09, 2014
13Ascot MiningATMGYOTCUnited KingdomMay 05, 2014
14Auckland International AirportACDKYOTCNew ZealandOct 14, 2014
15Autoroutes Paris-Rhin-RhoneSEAUYOTCFranceApr 30, 2014
16AZ Electronic MaterialsAZELYOTCLuxembourgAug 11, 2014
17Benitec BiopharmaBTCPYOTCAustraliaMay 29, 2014
18Berlian Laju TankerPBLJYOTCIndonesiaMar 19, 2014
19Boulder SteelBLSTYOTCAustraliaSep 22, 2014
20CermaqCRMQYOTCNorwayDec 03, 2014
21Ciments FrancaisCMSAYOTCFranceAug 22, 2014
22CSLCMXHYOTCAustraliaJun 08, 2014
23David JonesDJNTYOTCAustraliaSep 08, 2014
24Dixons RetailDSITYOTCUnited KingdomSep 26, 2014
25Dogan YayinDYYHYOTCTurkeySep 26, 2014
26eAccessECLTYOTCJapanMar 21, 2014
27Environmental Recycling TechnologiesERTEYOTCUnited KingdomFeb 10, 2014
28Essar EnergyERERYOTCUnited KingdomJun 17, 2014
29Fisher & Paykel AppliancesFPAHYOTCNew ZealandMar 14, 2014
30Fook WooFOWUYOTCHong KongJan 23, 2014
31GUM (Torgovy Dom)GUMRYOTCRussiaDec 12, 2014
32GunnsGNXLYOTCAustraliaMar 20, 2014
33Hampson IndustriesHPIDYOTCUnited KingdomMar 19, 2014
34Heritage OilHTGLYOTCJerseyDec 05, 2014
35IG GroupIGGRYOTCUnited KingdomJan 12, 2014
36Inmuebles CarsoIBYNYOTCMéxicoDec 12, 2014
37Israel ChemicalsISCHYOTCIsraelOct 27, 2014
38IVGIVGHYOTCGermanySep 08, 2014
39KuzbassenergoKZBGYOTCRussiaOct 16, 2014
40LonestarADUEYOTCAustraliaJun 20, 2014
41M.J. Maillis Industrial PackagingMJMSYOTCGreeceDec 17, 2014
42Marine HarvestMNHVYOTCNorwayJan 27, 2014
43Metal StormMTSXYOTCAustraliaOct 31, 2014
44Milano AssicurazioniMLNOYOTCItalyFeb 10, 2014
45Myer HoldingsMHOLYOTCAustraliaApr 07, 2014
46NZ Farming Systems UruguayNZFSYOTCNew ZealandMar 03, 2014
47OAO OMZOMZOYOTCRussiaMar 17, 2014
48Omega PharmaOMGYYOTCBelgiumMar 14, 2014
49ParanapanemaPNPPYOTCBrazilOct 06, 2014
50Personal & Informatik-P&IPIPKYOTCGermanyNov 26, 2014
51ProbiomicsPRBMYOTCAustraliaNov 25, 2014
52Pronova BioPharmaPVNAYOTCNorwayMar 14, 2014
53SC Global DevelopmentsSGBDYOTCSingaporeMar 21, 2014
54Singapore LandSINPYOTCSingaporeAug 01, 2014
55Staging ConnectionsSTGFYOTCAustraliaApr 11, 2014
56Statoil Fuel & RetailSTOIYOTCNorwayMar 19, 2014
57StirolSRLLYOTCUkraineJul 03, 2014
58STX EuropeSTXUYOTCNorwayMar 19, 2014
59Swire PropertiesSWPFYOTCHong KongSep 04, 2014
60Tap OilTAPOYOTCAustraliaOct 30, 2014
61Theme InternationalTHIHYOTCHong KongFeb 06, 2014
62ThyssenKruppTYEKYOTCGermanyNov 18, 2014
63TradeholdTDHDYOTCSouth AfricaMay 12, 2014
64Transcom WorldWide - A SharesTRCMYOTCLuxembourgDec 12, 2014
65Transcom WorldWide - B SharesTRCXYOTCLuxembourgDec 12, 2014
66Travis PerkinsTVPKYOTCUnited KingdomMay 19, 2014
67Wing Hang BankWGHGYOTCHong KongDec 05, 2014
68Witwatersrand Consolidated Gold ResourcesWIWTYOTCSouth AfricaJun 02, 2014
69Gold One InternationalGLDZYOTCQXSouth AfricaMar 19, 2014

Source: BNY Mellon

Disclosure: Long VEOEY

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