OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial markets, today announced J Sainsbury Plc (LSE: SBRY; OTCQX: JSAIY), one of the U.K.'s largest supermarkets with more than 1,200 locations and 161,000 employees, has been approved to have its American Depositary Receipts (ADRs) trade on the OTCQX® Best Market.
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J Sainsbury begins trading today on OTCQX under the symbol "JSAIY," where each ADR represents four ordinary shares. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"J Sainsbury, a FTSE 100 company, is one of Britain's oldest, independent grocers that has been delivering value and innovation to U.K. consumers since 1869," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "We're excited to welcome J Sainsbury to our family of investor-focused U.S. and international OTCQX companies and look forward to supporting the company in its continued growth."
John Rogers, Chief Financial Officer of J Sainsbury Plc, said, "We are delighted to be launching on OTCQX. Whilst we already run an established ADR program, the OTCQX platform will allow us to expand our reach to U.S. shareholders, offering them greater flexibility and convenience when investing in our stock."
BNY Mellon serves as J Sainsbury's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
J Sainsbury is engaged in the operation of food and grocery retailing chains and financial services. Apart from food and grocery products, the company's stores offer meat and fish counters, complementary non-food products such as clothing and homeware, coffee shops, restaurants and petrol stations. The company also operates banks whose product portfolio includes car insurance, life cover, home insurance, travel insurance, pet insurance, Visa credit cards, Child Trust Fund, internet savings account, instant access savings account, direct saver account, personal loans and a car purchase scheme. The company also offers internet-based home delivery service.