JD Wetherspoon plc has an American Depositary Receipt (ADR) programme that trades on the Over-The-Counter ('OTC') market in the US.
JD Wetherspoon plc (JDW) is listed on the London Stock Exchange. In London, ordinary shares are traded. In New York, shares are traded as American Depositary Receipts (ADRs).
An ADR is a negotiable US certificate representing ownership of shares. This security represents the entitlement to underlying ordinary shares and dividends (paid in US dollars). ADRs are quoted and traded in US dollars and settle through the US settlements system.
The current ratio for JD Wetherspoon plc is 1:5 (ADR: Ordinary Share).