AVQ is a “CHESS Depositary Interest” by virtue of being a...

AVQ is a “CHESS Depositary Interest” by virtue of being a foreign company.

A CDI is a financial product which is a unit of beneficial ownership quoted on the ASX market.

For example, if a foreign company issues CDIs in respect of its shares (financial products), the holders of the CDIs obtain “beneficial ownership” of those foreign financial products. The main difference between holding CDIs and holding foreign financial products directly is that you have
beneficial ownership of the equivalent number of foreign financial products instead of legal title. Legal title to the foreign financial products is held by a nominee company on behalf of CDI holders.