I noticed this security on the London Stock Exchange: Boeing Co. Com Stk USD5 (CDI) (ticker: BOE). What is it exactly? There's "CDI" in its name, so it is a CREST Depository Interest. The issue date is 2004-09-27. Its price seems to track Boeing's stock price on the New York Stock Exchange. However, I could not find any mention of a London listing on Boeing's investor relations website. What could this mean?

Companies usually mention the stock exchanges on which their shares are traded. For example, other prominent CDIs such as Banco Santander S.A. ORD EUR0.50 (CDI) (ticker: BNC) and International Consolidated Airlines Group S.A. ORD EUR0.10 (CDI) (ticker: IAG) are mentioned on their respective companies' investor relations websites. I'm surprised that Boeing did not mention a London listing. Does this mean that someone listed Boeing's shares on the London Stock Exchange without Boeing's permission (similar to unsponsored ADRs in the USA)?


1 Answer 1


From The International Investor:

A CREST Depository Interest (CDI) is a UK security that represents a stock traded on an exchange outside the UK.

So it's a financial instrument that's traded in the UK that represents a stock on another exchange. In the US they're called "American Depository Receipts" (ADR).

The CDI "tracks" the international stock, so you get price return and dividends. There may be some subtle legal difference with respect to actual equity ownership, voting rights, etc. But if your concern is purely capitalizing on the growth of Boeing stock, the CDI will provide that to you.

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    But who is the issuer of this Boeing CDI? I was unable to find any prospectus or other regulatory filings related to Boeing's CDI listing on 2004-09-27.
    – Flux
    Commented Jul 10, 2021 at 16:16
  • From that article, they are issued by CREST, who holds the underlying shares. They are not issued by Boeing so there would not be any regulatory filings from them regarding these. It would be like if you bought 100 shares and then sold an "IOU" to someone for those shares. The IOU Would be worth the same as the shares (since that's what you get if you redeem it).
    – D Stanley
    Commented Jul 12, 2021 at 13:44

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