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Which of the following statements is correct? Leve III ADRs are listed on US exchange using existing shares. Unsponsored ADR is imitated by a depositary

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Which of the following statements is correct? Leve III ADRs are listed on US exchange using existing shares. Unsponsored ADR is imitated by a depositary bank without the contractual involvement with the company. Level I ADRs are traded on US exchange. Level I and II ADRs can be used to raise capital through a public offering in the US

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