Ok... I think the following link explains it for me at least the difference.
https://freetrade.io/learn/otc-stocks-and-adrs-explained
Basically, instead of dual listing say. OTC is a way for US investor to trade shares in the US.
It is listed into 3 tiers.
The three matching platforms are:
OTCQX - these OTC stocks have the strictest regulatory requirements of the three, and require adherence to some SEC regulations.
OTCQB - these OTC stocks have some regulatory requirements, but do not require adherence to any SEC regulations.
Pink Open Market - this market is also known as OTC Pink or the ‘Pink Sheets’, and is made up of the riskiest OTC assets. These are often penny stocks or shell companies, which may not have made any recent financial disclosures.
Now basically the announcement is this. We've moved from the pink sheet open market, no regulations, dealer trading. to the OTCQB market.
Still "penny stock" But some regulations, but not the full/SEC regulations.
Now, ADR is interesting, it basically means you buy foreign shares via an institutions that is "guranteed"? by a US banks say. It can also mean the company in question is on the OTC market. But not always. Of note in the last item in the list below, FMG is an ADR, with an OTC stock. The example given is of nintendo. So, if I specculate this correctly, if ADR is to happen for FBRKF, its a way for US investor to invest into FBR, without the need to "list" say on the NYSE.ADRs
Then there are American Depository Receipts (ADRs). ADRs aren’t another tier on the OTC Markets Platform, but they can still trade OTC.
They represent a foreign company’s stock with a listing on a US exchange. That means the stock trades in USD, and if it pays dividends, those will be paid in USD too, no matter where the company is based.
Not all ADRs are OTC stocks. Some ADRs will list on the NASDAQ or NYSE, for example.
But OTC ADRs, compared to other OTC stocks, tend to be lower risk because they often represent shares in large, global companies. That means their shares are more liquid than the smaller companies that tend to list on other OTC Markets platforms.
On the Freetrade app, you can currently find 20 OTC ADRs.
Freetrade OTC stocks
Ok... I think the following link explains it for me at least the...
Add FBR (ASX) to my watchlist
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Last
2.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $111.0M | |||
| Open | High | Low | Value | Volume |
| 2.5¢ | 2.6¢ | 2.5¢ | $19.04K | 755.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 1797438 | 2.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.5¢ | 2500000 | 1 |
View Market Depth
| Last trade - 15.55pm 03/05/2024 (20 minute delay) ? |
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Last
2.4¢ |
Change
0.000 ( 7.69 %) |
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| Open | High | Low | Volume | ||
| 2.5¢ | 2.6¢ | 2.4¢ | 707625 | ||
| Last updated 15.53pm 03/05/2024 ? | |||||
| FBR (ASX) Chart |