ADR vs low volume share

I was thinking about buying Carlsberg (class B) shares (I mean who doesn’t like Feldschlösschen). I am using IB as broker where it is not possible to buy shares in Copenhagen. So one option would be to buy an ADR and the other would be to buy the regular share at Frankfurt Stock Exchange which has a very low volume. I was wondering what the pros and cons are? Is there double taxation of dividends on the ADR?

Surely IB lets one trade in Copenhagen S.E.
I don’t personally though.
Maybe you have to extend your defined available stock exchanges. Maybe check if u can do that.

Shouldn’t it then be listed on
? Also if I call the symbol CARL.B I do not get any data. I have trading permissions for all of Europe set.

I am not buying/trading any ADR unless they aren’t available elsewhere. Tax authorities in Europe probably won’t have tax figures for ADRs “in their system”. And I won’t be going to find out what difference that makes for a (negligible) dollars in trading costs.

Me :stuck_out_tongue: and even less Heineken, that one is like piss and should not be classified as beer…


Haha me neither, but I guess personal preferences shouldn’t influence investment decisions

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I think they very much should.

(Though maybe less so the ones for brand of beer)

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