Depository Receipts (DRs) would be a very valuable instrument for Qatari companies looking to make acquisitions overseas, says Peter Gotke (pictured), Vice-President, Depository Receipts at BNY Mellon.
“DRs are used all the time for M&A (mergers and acquisitions). It is a critical instrument for the financial markets that allow companies to find new investors in markets like London or New York and increasingly is being used to find new investors in the emerging markets like India or China,” Gotke told reporters on the sidelines of the Financial Thought Leader’s Summit which opened here yesterday.
He said BNY Mellon launched the first Depository Receipts program here in Qatar over 10 years ago and it was Qtel that had taken the program. Currently we are working on a couple of mandates here in Qatar, but mandate does’nt mean we have a program tomorrow. We are working very hard to get these programs off the ground, maybe one will be launched before Ramadhan and the rest in Q3, Q4 this year,” he said.
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