Difference b/w Level 2 and Level 3 ADR

CFA Level II
#1

Please let me know the difference as shweser does not explain it very clearly

#2

they do a new public offering with 3

#3

correct. LII has gone through registration process in the US (GAAP financials) and LIII is able to raise capital in the US

#4

Fine I would not like to dig further into it. Thanks