By Night Heron:
The American Depositary Receipts (ADRs) of Allied Irish Banks (OTCQB:AIBYY) may be the most misunderstood ADRs in the US. Until August 2011, AIBYY was a normal ADR. Each share of AIBYY traded on the New York Stock Exchange and represented 10 “underlying” shares of Allied Irish Banks, which traded under the symbol AIB on the Irish Stock Exchange.