Earlier this year, Transparency International released the 2021 Corruption Perception Index. According to the report, the least corrupt countries are Denmark, Finland and New Zealand. The most corrupt countries are South Sudan, Somalia and Syria.
The US was ranked 27th. Ukraine ranked 123 out of 180 countries and Russia came in at 136.
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Source: Where Corruption Is Rampant, Statista
Here is another take on the same data:
Source: Axios
The equity investment returns of the G-20 countries based on their benchmark index from 2000 to 2020 is shown in the chart below in the order of performance. The returns noted are in US dollars and do not include dividends and fees.
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Source: Quantalytica
Related EFTs:
Disclosure: No positions
Australia’s Westpac Banking Corporation’s ADR was delisted from the NYSE and last traded there on Jan 31, 2022. ADR holders have the option of converting them to ordinary shares trading on the US OTC market or on the domestic market in Australia. The deadline to surrender ADRs is June 2, 2022 – less than 2 weeks away.
If ADRs are not converted before June 2nd, then the depository will automatically sell the underlying shares after that date and you must surrender the shares to receive the sale proceeds less fees and any taxes.
Westpac ADRs can be converted to WEBNF on the OTC market or WBC.AX trading on the ASX.
Below is an excerpt from the termination notice:
As a result, the existing ADR facility will be terminated effective Monday, January 31, 2022 Under the terms of the Deposit Agreement, you have until at least June 2, 2022 to surrender your Westpac ADRs for delivery of the underlying shares. If you surrender ADRs for delivery o f the underlying shares, you must pay a cable fee of $17.50, a cancellation fee of up to $0.05 per ADRs surrendered and any applicable U.S. or local taxes or governmental charges. Payment should be made payable to The Bank of New York Mellon.
Subsequent to June 2, 2022 under the terms of the Deposit Agreement, the Depositary may attempt to sell the underlying shares. If the Depositary has sold such shares, you must surrender your ADRs to obtain payment of the sale proceeds, net of the expenses of sale, any applicable U.S. or local taxes or government charges and a cancellation fee of up to $0.05 per ADRs.
To surrender your ADRs, the address of the Depositary is: The Bank of New York Mellon, 240 Greenwich Street, Depositary Receipts Division – 8th Floor, Attention: Cancellation Desk, New York, NY 10286. Registered or overnight mail is the suggested method of delivering DRs to the Depositary.
Source: BNY Mellon
Related:
Disclosure: Long WEBNF
Russian energy giant Gazprom has decided to terminate its ADR program. According to the depository BNY Mellon the ADR program will be terminated June 16, 2022. Holders of the ADRs have the option to convert them to ordinary shares that trade on the domestic exchange in Russia or surrender the ADRs to receive payment of sale proceeds. Gazprom used to trade on the OTC markets under the ticker OGZPY.
Below is the termination notice from BNY Mellon:
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Source: BNY Mellon
Gazprom Related Useful Links:
Related Posts:
Disclosure: No positions
I have written many times before that railroads are an important pillar of the Canadian economy. Just two freight railroads – Canadian National(CNI) and Canadian Pacific (CP) – dominate the industry. The following infographic from Statistics Canada shows some of the interesting facts about rail transportation in 2020:
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Source: Statistics Canada
Disclosure: Long CNI