close
This ad will auto close in 10 seconds

Infosys ADS starts trading on NYSE

Country's second largest software services firm Infosys Wednesday said its American Depositary Shares (ADS) have started trading on the New York Stock Exchange (NYSE).



New York: Country's second largest software services firm Infosys Wednesday said its American Depositary Shares (ADS) have started trading on the New York Stock Exchange (NYSE).

An ADS is a US dollar-denominated equity share of a foreign-based company available for purchase on an American stock exchange.

"Infosys' ADS have started trading on the New York Stock Exchange (NYSE) under the ticker symbol 'INFY'," Infosys said in a statement.

Earlier this month, Infosys had announced transfer of its NASDAQ-listed ADS to NYSE, a move aimed to give its European investors better access to its stock.

"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," Infosys CEO and MD S D Shibulal had said.

The company is also in the process of listing its ADS on the Paris and London exchanges of NYSE Euronext, the statement said.

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.

PTI

From Zee News

0 Comment - Join the Discussions