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Clicks' US shares to aid foreign visibility

March 15 2013 at 08:00am

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Clicks had launched an American depositary receipt (ADR) programme to increase its visibility in the US in light of its increasing number of foreign shareholders, the retailer said yesterday. Michael Fleming, the chief financial officer, said the ADRs would provide greater flexibility to shareholders. “In the last three-and-a-half years, Clicks has lifted its offshore shareholding from 12 percent to 60 percent.” The non-capital raising programme took effect yesterday. Deutsche Bank is the depositary bank. An ADR is a certificate representing shares in a foreign stock that is traded on a US exchange. – Staff writer


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