Receipt conversion
Exchanging depositary receipts for local shares at the established ratio.
How to read the number
A receipt is a derived record of shares held in custody; conversion turns it into the security itself and moves the rights from a foreign infrastructure into the local one.
When the metric lies
Whether conversion is possible depends on the depositories' willingness to process it. While it is halted, receipt and share live at different prices.
Also known as: receipt conversion