{"slug":"how-adrs-work-ratios-and-fees","qid":"adr_ratio_events","label":"Recent share-count adjustments on large foreign issuer receipts","post_title":"How ADRs Work: Ratios, Fees and Dividends","post_url":"/blog/how-adrs-work-ratios-and-fees#q-adr_ratio_events","columns":["event","old_share_count","new_share_count"],"rows":[{"event":"UL Dec 2025","old_share_count":9,"new_share_count":8},{"event":"HDB Sep 2025","old_share_count":1,"new_share_count":2},{"event":"SONY Oct 2024","old_share_count":1,"new_share_count":5},{"event":"NVO Sep 2023","old_share_count":1,"new_share_count":2},{"event":"HDB Sep 2019","old_share_count":1,"new_share_count":2},{"event":"INFY Sep 2018","old_share_count":1,"new_share_count":2},{"event":"IBN Jun 2017","old_share_count":1,"new_share_count":1},{"event":"BTI Feb 2017","old_share_count":1,"new_share_count":2}],"shape":"ranking","sql":"SELECT\n    concat(ticker, ' ', formatDateTime(execution_date, '%b %Y')) AS event,\n    toUInt32(any(split_from))                                    AS old_share_count,\n    toUInt32(any(split_to))                                      AS new_share_count\nFROM global_markets.stocks_splits\nWHERE ticker IN ('BABA', 'NVO', 'SONY', 'TM', 'HDB', 'IBN', 'INFY', 'PDD', 'TSM', 'SAP', 'UL', 'BTI', 'ASML', 'MUFG', 'SMFG', 'TEVA', 'ERIC', 'STLA')\n  AND execution_date >= today() - 3650\n  AND execution_date <= today()\nGROUP BY ticker, execution_date\nORDER BY execution_date DESC\nLIMIT 12","computed_at":"2026-08-22T04:08:23.585088+00:00","elapsed":0.035627166}