An IB/ADR question

[SoyUnGanador]

I (apparently) own quite a lot of ADRs. In my IB account, I have lots of notifications like this:

The American Depository Receipt (ADR) of UNILEVER PLC-SPONSORED ADR is eligible for conversion into the underlying common shares under the symbol ULVR. The terms to redeem the ADR are as follows:


What is going on there? It also says fees will apply, but doesn't specify what they are.

Thanks for any help as to what is going on here and whether it is something I should say yes or no to!

 

[BKR88]

I (apparently) own quite a lot of ADRs. In my IB account, I have lots of notifications like this:

The American Depository Receipt (ADR) of UNILEVER PLC-SPONSORED ADR is eligible for conversion into the underlying common shares under the symbol ULVR. The terms to redeem the ADR are as follows:


What is going on there? It also says fees will apply, but doesn't specify what they are.

Thanks for any help as to what is going on here and whether it is something I should say yes or no to!

Do not convert.
ULVR will trade on the London stock exchange.
UL trades on the NYSE.

 

[SoyUnGanador]

Do not convert.
ULVR will trade on the London stock exchange.
UL trades on the NYSE.

Roger that Captain! Not converting any of them, ever haha. Thanks!

 

[JonLivingston]

Do not convert.
ULVR will trade on the London stock exchange.
UL trades on the NYSE.

Why not? Is that because OP will incur in unnecessary fees, not to mention holding a position denominated in GBP?

Just curious. I never dealt with ADRs before.

 

[destriero]

Yeah, keep your three NYSE share, Soy.

 

[SoyUnGanador]

Yeah, keep your three NYSE share, Soy.

I suggest more exercise, less trolling, you fat thing you.

 

[destriero]

I suggest more exercise, less trolling, you fat thing you.

Glad to hear you’re not going to allow those Brits to take your odd lot!

 

[SoyUnGanador]

Glad to hear you’re not going to allow those Brits to take your odd lot!

Sad to hear you are not taking your dieting or health seriously fat thing!

 

[destriero]

Sad to hear you are not taking your dieting or health seriously fat thing!

Not true, soy!

I am at 14% LBM via DEXA. Here's my Lumen and rhGH.

 

[SoyUnGanador]

Not true, soy!

I am at 14% LBM via DEXA. Here's my Lumen and rhGH.

Yes you are absolutely a manlet too. I already know all this. I've told you as much many times. No amount of that is going to put you over 5'2", just fyi. Sorry.