EXPLAIN IN SIMPLER TERMS THE FOLLOWING:

Cross~|isting :- It refers to having the shares listed on one or more foreign exchanges. In particular, lviNCs do this generally. but nomMNCs also crossalist American Depository Receipts {ADR} :- a receipt that has a number of foreign shares remaining on deposit with the U5. depository's custodian in the issuer's home market. The bank is a transfer agent for the ADRs that are traded in the United States exchanges or in the OTC market. 2 Types of ADP. 1. Sponsored 2. Unsponso red Sponsored ADRs :- are created by a bank after a request of the foreign company. The sponsoring bank offers lots of services. including investment information and the annual report translation. Sponsored ADRs are listed on the US stock markets. New ADP. issues must be sponsored. Unsponso red ADRs :- are generally created on request of US investment banking firms without any direct participation of the foreign issuing rm. Global Registered Shares {GRS} :- are shares that are traded globally, unlike the ADRs that are receipts of the bank deposits of homesmarket shares and are traded on foreign markets. The GRS are fully transferable GRS purchased on one exchange can be sold on another. They usually trade in both US dollars and euros