Infosys to shift listing from Nasdaq to NYSE
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Infosys Technologies has decided to transfer the listing of its American Depositary Shares (ADS) to the New York Stock Exchange (NYSE) from the NASDAQ Global Select Market (NASDAQ). The company is also seeking to list its ADS on the Paris and London exchanges of NYSE Euronext.
Infosys became the first Indian company to be listed on the Nasdaq in 1999 and had offered 900,000 shares to raise an estimated $50 million.
Infosys ADS will begin trading on the NYSE Euronext markets in the US under the ticker symbol 'INFY' on December 12.
Until the transfer is complete, Infosys ADS will continue to trade in the US under the ticker symbol 'INFY' on the NASDAQ.
Once the separate Euronext listing process is complete, Infosys ADS will begin trading on the NYSE Euronext markets in Paris and London.
The NYSE Euronext listing will not change Infosys float, share/ADR count and capital structure, it said.
"Our decision to transfer ADS listing to NYSE is motivated by a desire to leverage the NYSE Euronext partnership to empower our investor base, increase access to our stock for European investors and broaden the trading window available for our global investors," said SD Shibulal, CEO and MD, Infosys. "We look forward to a strong and long engagement with NYSE Euronext."
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