To make Skanska shares more readily available to U.S. investors, we have formally launched an American Depository Receipt (ADR) program. The ADRs, which each represent one ordinary Skanska share, are publicly traded in the U.S. on the OTC market under the symbol SKBSY. The value of one Skanska ADR corresponds to the value of one Skanska share; regular shares of our company are traded on the Stockholm Stock Exchange.
What are ADRs?
ADRs are dollar-denominated securities which represent ownership of equity in non-U.S. companies. ADRs trade, clear and settle like any U.S. shares and are held in U.S. custody.
How can I buy and sell Skanska ADRs?
Investors can trade Skanska ADRs through a U.S. registered broker-dealer.
Benefits of ADRs?
• ADRs allow U.S. investors to trade locally in non-U.S. companies.
• Dividends are paid in U.S. dollars and the dividend tax re-claim process is taken care of by the depositary bank, typically reducing the dividend tax to the U.S. level (with the actual tax rate depending on each investor’s individual circumstances).
• Global custodian safekeeping fees are eliminated when holding ADRs; this usually makes holding ADRs less expensive.
For more information, and to obtain the contact information for J.P. Morgan, Skanska’s depository bank, please click here:
Click here to watch CEO Mike McNally discuss the ADR program with Brad Thomas on The Street.