You nailed it. Not much else to say. Basically this is an...

You nailed it. Not much else to say. Basically this is an American Depository Receipt.


1) What is an 'American Depositary Receipt - ADR'
An American depositary receipt (ADR) is a negotiable certificate issued by a U.S. bank representing a specified number of shares (or one share) in a foreign stock traded on a U.S. exchange. ADRs are denominated in U.S. dollars, with the underlying security held by a U.S. financial institution overseas, and holders of ADRs realize any dividends and capital gains in U.S. dollars, but dividend payments in euros are converted to U.S. dollars, net of conversion expenses and foreign taxes. ADRs are listed on either the NYSE, AMEX or Nasdaq but they are also sold OTC.

2) Benefits
ADR holders do not have to transact in foreign currencies because ADRs trade in U.S. dollars and clear through U.S. settlement systems. The U.S. banks require that the foreign companies provide them with detailed financial information, making it easier for investors to assess the company's financial health compared to a foreign company that only transacts on international exchanges.

3) To offer ADRs, U.S. banks simply purchase shares from the international company and reissue them, typically on U.S. exchanges. An ADR may represent the underlying shares on a one-for-one basis, or it may represent a fraction of a share or multiple shares. The depositary bank sets the ratio of U.S. ADRs per home-country share at a value that is appealing to investors. If an ADR’s value is too high, it could deter some investors, but if it is too low, investors may think they are like riskier penny stocks.

Read more: American Depositary Receipt - ADR https://www.investopedia.com/terms/a/adr.asp#ixzz520Xw38Uv
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Does they offer an equivalent when trading in Australia?