What Is Form F-6EF?
Form F-6EF is a filing with the Securities and Exchange Commission (SEC). This form is also known as the Registration for Depository Shares form. Form F-6EF is required for publicly-traded foreign companies who wish to have shares of their company trade as American Depository Receipts (ADRs) on American stock markets. An ADR is a certificate issued by a U.S. depository bank that represents a specified number of shares of a foreign company's stock. The ADR trades on U.S. stock markets as any domestic shares would.
Form F-6EF must include the issuer's foreign name, its name translated into English, and the contact information for the U.S.-based depository issuing the ADRs.
- Form F-6EF is a filing that publicly-traded foreign companies must register with the Securities and Exchange Commission (SEC) if they wish to offer American Depositary Receipts (ADRs) issued by a depositary against the deposit of the securities offered by a foreign issuer.
- An ADR is a certificate issued by a U.S. depository bank that represents a specified number of shares of a foreign company's stock; the ADR trades on U.S. stock markets as any domestic shares would.
- Foreign companies often list their shares as ADRs in the U.S. in order to attract a greater breadth of investors and increase their status in the corporate world.
Who Can File Form F-6EF?
SEC Form F-6EF is used to register foreign publicly traded companies who wish to list shares of American Depository Receipts (ADRs) on U.S. exchanges. The "EF" designation means that this form, unlike the standard SEC Form F-6, is automatically effective upon filing with the SEC, pursuant to Rule 466 of Part 230, that is immediately upon filing.
Foreign companies often list their shares as ADRs in the U.S. in order to attract a greater breadth of investors and increase their status in the corporate world. American exchanges tend to be more liquid than other world stock markets. With an ADR, a foreign company's shares are effectively traded both in the U.S. and abroad.
Form F-6EF is nearly identical to Form F-6, which also registers ADRs with the SEC. However, the "EF" in Form F-6EF designates that this form is "auto-effective" upon filing, meaning that the SEC considers the securities to be registered upon receipt.
Traditionally, the SEC Form F-6 is used to register an ADR. However, a depositary request that previously has filed a registration statement on Form F-6 ( § 239.36) may designate a date and time for a registration statement (including post-effective amendments) on Form F-6 to become effective and such registration statement shall become effective in accordance with such designation. According to the SEC, the filing may be effective immediately ("EF") if the following conditions are met:
- The depositary firm previously has filed a registration statement on Form F-6, which the SEC has already declared effective, with identical terms of deposit, except for the number of foreign securities a Depositary Share represents, and the depositary so certifies; and
- The designation of the effective date and time is set forth on the facing-page of the registration statement, or in any pre-effective amendment thereto. A pre-effective amendment containing such a designation properly made shall be deemed to have been filed with the consent of the SEC.
How to File Form F-6EF
Firms must file Form F-6EF in an electronic format through the SEC's Electronic Data Gathering, Analysis and Retrieval (EDGAR) system. This enables investors, regulators, and any other interested parties to quickly and easily access the information if they so desire it. Registration fees and filing fees apply.
You can download Form F-6EF here.