Alphavalue | Deutsche Bank launched the sale of 10 million shares of Cellnex among large investors. The German entity launches an ADR offer, which allows foreign investors to invest in the Spanish teleco in dollars, without exposing themselves to the risks of the Cellnex currency.
DB will sell up to 10 million titles among large investors. The operation will be carried out without the sponsorship of the company. Cellnex titles fell Friday – 1.47%.
An American depositary receipt (ADR) is a negotiable certificate issued by a U.S. depository bank representing a specified number of shares—or as little as one share—investment in a foreign company’s stock.