no.
why would any company issue illegal stock ?
reg-s stock has been about since the 1930's.
it's for non- U.S. citizens only.
reg-s was brought about after the 30's crash.
it was away of bringing money into the U.S.
through reg-s, non- U.S. citizens could invest in the U.S. for first time.
a discount was given on the reg-s stock to encourage investment.
it's illegal for U.S. citizens to purchase because they would be taking advantage of the discounts without bringing in extra cash to the U.S.
Microsoft was a reg-s stock in it's early days !!!