Depositary shares (link to legal section) make sense if the shareholders derive added value from the depositary entry. This can be the legal protection of the buyer of a share. But it can also be the opportunity to borrow against the shares as a company founder or shareholder with larger shareholdings. Lending against real estate makes particular sense for private real estate purchases, similar to the 2nd pillar. Successful young entrepreneurs in particular can adjust their standard of living without having to sell shares in the company.