hmmm - looking at wiki makes it a bit simpler for me
https://en.wikipedia.org/wiki/American_depositary_receipt
level 2's would be fine - level 3's only if you need to raise. ----------- No point in level 1's
also --
"Each ADR is issued by a domestic custodian bank when the underlying shares are deposited in a foreign depositary bank, usually by a broker who has purchased the shares in the open market local to the foreign company."
same ref.
I can't see why it wouldn't be perfectly doable to go level 2's with no raise.
Lot less fuss than level 3 and if you don't need the money????? why not?
hmmm - looking at wiki makes it a bit simpler for me...
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