Repsol ADRs

Buy shares on the US stock market

We offer our shareholders, and those thinking of buying shares of the Group a financial instrument created so that foreign company shares can be traded on the US stock market. ADRs, short for American Depositary Receipts, are a negotiable US-dollar-denominated certificate representing shares in a non-US company. In the case of Repsol, ADRs represent the Company’s ordinary shares deposited with the Depositary Bank, which underlie such certificates and carry the associated shareholder rights. Specifically, one ADR equates to one Repsol share.
This program is run by Deutsche Bank Trust Company Americas (Deutsche Bank). It acts as a depositary bank and performs different roles for the ADR holders. The full list is provided in the Deposit Agreement, registered with the SEC in the United States:

  • Records and maintains the register of ADR holders.
  • Is the transfer agent for shareholders on the ADR register.
  • Issues and cancels Repsol ADRs.
  • Distributes dividends in US dollars (if applicable).
  • Can facilitate the proxy voting process and the exercise of voting rights on behalf of ADR holders (if applicable).
  • Distributes voting documents for the Annual General Shareholders Meeting and company circulars (if applicable).

Repsol ADR details: 

  • US Trading Symbol: REPYY 
  • Structure: Sponsored Level 1 ADR 
  • Market: OTCQX 
  • Ratio (ORD:ADR): 1:1 
  • ADR CUSIP: 76026T205 
  • ADR ISIN: US76026T2050 
  • Depositary Bank: Deutsche Bank

Get your questions about ADRs answered

U.S. investors may prefer to purchase ADRs rather than ordinary shares in the issuer’s home market because ADRs trade, clear, and settle according to U.S. market conventions. One of an ADR’s top advantages is the facilitated diversification into foreign securities. ADRs also allow easy comparison to securities of similar companies as well as access to price and trading information.

Ordinary shares must be converted into ADRs through a broker, an investment advisor, or Deutsche Bank Trust Company Americas.

You may buy or sell Repsol ADRs through your broker or the depositary bank.

This is the relation between the number of ADRs and the number of Repsol ordinary shares. One Repsol ADR represents one Repsol ordinary share, i.e. the ratio is 1:1.

Repsol ADRs started trading on the OTCQX platform on March 4, 2011. They are traded on the OTCQX International Premier market, the highest over-the-counter-market tier provided by OTC Markets Group, Inc. under the symbol “REPYY”. It can be accessed via the following link.

U.S. OTC trading in Level 1 ADRs is carried out by market makers using inter-dealer quotation services of OTC Markets (operated by OTC Markets). The website is:

Deutsche Bank Trust Company Americas (Deutsche Bank) is the depositary bank for Repsol ADRs. It plays a key role in issuance as well as cancellation of ADRs. It also maintains the ADR holder register, distributes the dividends in US dollars and facilitates the exercise by the ADR holders of their voting rights (if necessary).

A registered holder is one whose name appears on the books of the depositary bank. A beneficial holder is one whose holdings are registered in a name other than their own, such as the name of a broker, bank, or nominee.