Infosys to shift from NASDAQ to NYSE
New Delhi: IT major Infosys is transferring its NASDAQ-listed American Depositary Shares (ADS) to the New York Stock Exchange and is also planning to list them on the Paris and London exchanges.
At the end of September quarter, Infosys had 6.67 crore ADS representing 11.62 percent of its total number of shares, according to BSE data.
An ADS is a US dollar-denominated equity share of a foreign-based company available for purchase on an American stock exchange.
Infosys ADS will begin trading on the NYSE Euronext markets in the US under the ticker symbol 'INFY' on December 12, 2012, a company statement said.
Until the transfer is complete, Infosys ADS will continue to trade in the US under the ticker symbol 'INFY' on the NASDAQ, it added.
Infosys ADS had closed at USD 44.66 apiece on NASDAQ Thursday.
"We thank NASDAQ for the support and partnership we received from them as we took the Infosys brand to the global market. We look forward to a strong and long engagement with NYSE Euronext," Infosys CEO and MD S D Shibulal said in a statement.
"Our decision to transfer our American Depositary Shares 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," Shibulal said.
"Once the separate Euronext listing process is complete, Infosys ADS will begin trading on the NYSE Euronext markets in Paris and London," the statement said.
The NYSE Euronext listing will not change Infosys float, share/ADR count and capital structure, it said.
"We welcome the company's decision to transfer its listing to the NYSE. Infosys will benefit greatly from our leading global community, superior visibility platform, and innovative market structure and technology," NYSE Euronext CEO Duncan Niederauer said.
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