ADR cross border capital flows grew by 88% last year compared to 1999, according to a Citibank study that reports a record increase for the market. The surge in volumes, according to the report, was due primarily to dramatic market fluctuations caused by the global technology slump and a slowing US economy.
ADR trading volume surged 79% over 1999 to a record of 30 billion shares, far exceeding the 45% growth rate of the entire US market excluding ADRs, which rose to 660 billion shares. ADR trading value reached an all time high of $1.1 trillion in 2000, up 64% from 1999.
Asia among leaders of ADR capital raisings