ADR owners are usually notified in writing at least 30 days before termination. After notification, an owner may abandon his ADRs and receive foreign titles presented by the evidence or do nothing. When a SO holder decides to take possession of the underlying foreign shares, there is no guarantee that the shares will be traded on a U.S. exchange. The holder of foreign shares should find a broker with the bargaining power on the foreign market on which these shares are traded. If the owner maintains the ADR after the effective date of the termination, the custodian bank will continue to hold the securities deposited abroad and withdraw dividends, but will cease distributions to ADR owners. In 2013, a Chinese company consisting of several offshore companies called Autohome (ATHM) offered 7,820,000 U.S. deposits (ADS) representing their 7,820,000 Class A common shares resulting from the IPO.  The details are contained in the prospectus of December 16, 2013, under registration number 333-192085, filed pursuant to Rule 424 (b) (4) of the U.S. Securities Exchange Act of 1933.
A U.S. depository (ADR, and sometimes called custodian) is a tradable security representing securities of a company that acts on the U.S. financial markets.  The other option to limit the trading of deposit shares to U.S. public investors is to issue them in accordance with the provisions of SEC S. Regulation. This regulation means that the shares are not registered with a U.S. securities regulator and are not registered. New ADRs can either be purchased by depositing the company`s corresponding domestic shares with the custodian bank that manages the ADR program, or existing ADRs can be obtained on the secondary market. The latter can be obtained either by buying ADRs on a U.S. exchange, or by buying the company`s underlying domestic shares on their primary exchange, and then trading them for ADRs; These swaps are called crossbook swaps and represent on many occasions the majority of secondary trade with aDR.
This is particularly true for the ADRs of British companies, where the Uk government levies a stamp duty of 1.5%; The acquisition of existing ADRs on the secondary market (via cross swaps or exchange) is not subject to the SDRT. The introduction of a Tier 3 program means that the foreign company does not merely take steps to allow the deposit of shares in its domestic market in an ADR program and to trade in the United States; it actually spends shares to raise capital. Under this offer, the company is required to submit an F-1 form which is the format of a prospectus for the shares. They must also submit an 20-F form each year and comply with U.S. IFRS OR standards published by the IASB. In addition, all essential information provided to shareholders in the domestic market must be submitted to the SEC via Form 6-K. Shares of many non-U.S. shares. Companies trade on U.S. equity markets through ADRs that distribute dividends in U.S. dollars and how common shares can be traded.
 ADRs are also traded through U.S. brokers during trading hours in the United States. The CoRs simplifies investment in foreign securities by allowing the deposit-taking bank to “manage all deposit, currency and local tax issues.”  The majority of U.S. deposit programs currently negotiated are issued through a Tier 1 program.