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JD Sports joins OTCQX market to boost US investor access

ALN

JD Sports Fashion PLC on Wednesday said its shares have begun trading on the OTCQX Best Market in the US, upgrading from the OTC Pink Ltd Market as the retailer seeks to broaden access for American investors.

The Lancashire, England-based retailer of sports, fashion and outdoor brands said its shares started trading on the OTCQX market under the symbols JDSPY and JDDSF.

OTCQX is the highest tier of the over-the-counter market operated by OTC Markets Group and is designed for companies that meet certain financial and corporate governance standards.

Chief Executive Officer Regis Schultz said: ‘The US is one of our most important markets and remains central to the growth story that has established JD as a leading global sports fashion retailer. We greatly value the investors who support JD’s growth story there.’

‘Joining OTCQX reflects our commitment to the highest standards of transparency and governance, and ensures our US investors can engage with our business on that basis.’

North America is JD Sports’ largest market, accounting for 38% of group revenue, and where it operates more than 2,500 stores.

Jonathan Dickson, head of EMEA corporate services at OTC Markets Group, said the move would provide US investors with direct access to a FTSE 100 constituent.

‘As one of the world’s most recognised sports fashion retailers, JD’s addition to OTCQX gives US investors direct access to a FTSE 100 business with a significant US presence and further strengthens the connection between UK and US capital markets,’ he said.

Shares in JD Sports were up 0.4% at 83.00 pence in London on Wednesday morning.

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