ADR Program FAQs
An ADR is a negotiable U.S. security that represents ownership in the shares of a non-U.S. company. ADRs are issued by a U.S. bank (the depositary bank) to grant investors in the U.S., and elsewhere, access to invest in the equity of non-U.S. companies.
ADRs are traded in U.S. dollars and may be traded like the shares of U.S. companies, which allows non-U.S. companies to make their shares available outside of their home markets to improve the ability to invest in companies on a more global basis.
Elevra’s listed ADRs are traded on the NASDAQ under the ticker ELVR.
The ADR ratio provides the number of underlying shares represented by one ADR. One (1) Elevra ADR is equivalent to 10 Elevra ordinary shares traded on the ASX.
The ADR price is quoted in U.S. dollars and is determined by the relative supply and demand for the ADR. The ADR price generally trades close to parity with the ordinary share price on the ASX when accounting for the ADR ratio and foreign exchange rate.
Investors in the U.S. may benefit from holding ADRs instead of ASX ordinary shares because they trade, clear and settle according to U.S. market conventions.
ADRs allow U.S. investors to buy non-U.S. securities and hold them in U.S. brokerage accounts. ADRs also allow access to price and trading information, U.S. dollar dividend payments and corporate action notifications.
Elevra ADRs are traded on the NASDAQ under ticker ELVR and can be purchased through a broker, just as you would buy other U.S. securities. You cannot purchase ADRs directly from Elevra.
BNY Mellon is the depositary bank for Elevra ADRs and plays a key role in the process of issuance and cancellation of ADRs.
An overview of the Elevra ADR can be found here.
For more information on BNY Mellon and ADRs, please visit:
The depositary bank may charge an annual Depositary Service Fee of up to U.S.$0.05 per ADR. This is typically collected from the broker or other intermediary that holds the ADRs on your behalf. Your broker may pass this fee on to you directly or it may be part of the annual fee that you pay to maintain your brokerage account.
Section 5.9 of the ADR Deposit Agreement discloses all applicable fees. A copy can be found here.
At the present time, Elevra’s over-the-counter foreign ordinary shares (OTCQB: SYAXF) will continue to trade on OTC. There is no requirement to convert your OTC shares to ADRs and each share will continue to represent one (1) ASX-listed ordinary share of Elevra.
You are able to convert your OTC-listed shares to ADRs by following the steps outlined below.
Converting ASX-listed ordinary shares into ADRs can be done through your broker.
To convert your ordinary shares into ADRs:
- You need to transfer your ordinary ELV shares to BNY Mellon’s local custodian, HSBC Bank Australia Limited (SWIFT BIC: HKBAAU2SSYD, CHESS PID: 20057, Safekeeping Account: 011-552130-068). This process is usually completed by your broker via an electronic CHESS transfer, or broker transfer form. Your broker should be able to assist with this.
- HSBC also require the U.S. ADR delivery instructions to accompany any deposit of ordinary shares. This information should be sent via email to [email protected] and should include details of the institution where the ADRs will be delivered to in the U.S. market (i.e., institution / broker name & DTC account information).
- Once BNY Mellon receives confirmation from HSBC that your underlying ordinary shares have been deposited, new ADRs are issued and delivered to your nominated U.S. broker, in accordance with the ADR program’s “Deposit Agreement”.
Your brokers back office will be familiar with the ordinary share to ADR conversion process. Should your broker have a settlement enquiry, they can contact [email protected].
You should contact your broker if you are interested in converting your Elevra OTC shares to ADRs. Your broker should be familiar with the process and will need to arrange for the delivery of the underlying ordinary shares which represent your Elevra OTC holding (SYAXF) to HSBC in Australia as outlined in the response to “How do I convert my ASX-listed shares into ADRs?” above.
There will be an issuance fee of up to US$5.00 per 100 ADRs (or portion thereof) charged by The Bank of New York Mellon for the issuance of the ADRs. The exchange of your dematerialised ordinary shares will need to be managed by your broker as ordinary shares need to be transferred electronically to The Bank of New York Mellon prior to the issuance of ADRs. Your selected broker may also levy an administrative charge for managing the exchange process.
Between 2 January 2026 and 27 February 2026, BNY Mellon will waive the ADR issuance fee. Your broker’s back office will be able to arrange for this when settling an ADR issuance on your behalf.
A registered holder is one whose name appears on the books of the depositary. The registered holder is considered the owner of record. A beneficial holder is one whose holdings are registered in a name other than his or her own, such as the name of the broker, bank or nominee.
For registered holders, ownership is registered by the depositary bank and is evidenced by an account statement provided by the depositary.
Registered owners can hold physical ADR certificates. Please contact BNY Mellon using the contact information below for more information.
BNY Mellon Shareowner Services
P.O. Box 505000
Louisville, KY 40233-5000
U.S. Toll Free Telephone: 1-888-BNY-ADRS (1-888-269-2377)
Telephone for International Callers: 1-201-680-6825
Website: www.mybnymdr.com
E-Mail: [email protected]