JD Sports becomes latest blue-chip to trade on New York market
JD Sports has become the latest blue-chip firm to trade its shares onto a New York market in an attempt to boost its appeal to American investors without having to shift its listing to the US.
On Wednesday, the retail giant will begin trading on OTC Markets’ over-the-counter market in America, Morning Wire can reveal, allowing US retail investors to buy and sell the group’s shares during US market hours.
The move puts JD Sports among a growing cohort of British blue-chips turning to over-the-counter markets to boost interest in their shares and to go toe-to-to with their New York-listed rivals.
Retail giants Tesco, Sainsbury’s and Marks and Spencer have all signed up to have their shares traded via OTC Markets’ fast-growing platform. The financial services firm argues that its ‘third way’ grants customers greater access to US investors without having to endure the arduous process of adding a New York listing or uprooting their entire financial operations to the States.
Several FTSE 100 constituents have either quit London or considered moving their listing overseas in search for the higher valuations and greater liquidity that the American bourse tends to offer. Earlier this year, fintech darling Wise and gambling juggernaut Flutter both shifted their primary listings to Wall Street as part of wider commercial pushes into the United States market.
But the process involves a host of thorny, which has deterred several other London-listed juggernauts from moving trading venues. In 2025, Glencore undertook a strategic review of its London-listing, before shelving the plans months later having concluded it would not be included in the S&P 500’s flagship index.
Jonathan Dickson, OTC Markets’ head of Europe and the Middle East, said the JD Spots tie-up would give “US investors direct access to a FTSE 100 business with a significant US presence”. He added that it “further strengthens the connection between UK and US capital markets”.
North America becomes JD Sports’ largest market
North America has become JD Sports’ largest market, constituting over a third of its sales. The high-street chain’s growth the continent fueled by a combination of organic growth and a string of acquisitions of US-based retailers, including its $1bn (£758m) deal for Alabama-headquartered Hibbett.
“The United States 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,” said JD Sports chief executive Regis Schulz.
Trading in European stocks on OTC Markets reached some $118.6bn in the first three months of this year, the company said alongside its announcement, a 37 per cent quarter-on-quarter increase. The UK stocks appear on US brokerages alongside New York-listed companies, and trades are then cleared a day later on the London Stock Exchange.
London securities have been the most popular, despite the market also boasting blue-chip European firms like Heineken and Nestle.