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MTNL to be listed at NYSE on November 8
Finally the d-day has arrived for state-owned telecom major Mahanagar Telephone Nigam Ltd (MTNL) to ring the bells at New York Stock Exchange on November 8 when it would be formally listed, a top company official said.
Finally the d-day has arrived for state-owned telecom major Mahanagar Telephone Nigam Ltd (MTNL) to ring the bells at New York Stock Exchange on November 8
when it would be formally listed, a top company official said.
With this MTNL would become the second telecom PSU to be listed at overseas stock exchange after Videsh Sanchar Nigam Ltd (VSNL). “We are ringing the bells at NYSE on November 8, the period of four weeks to global depository receipts holders to convert their holdings into American depository receipts (ADRS) ends on October 26, MTNL chairman and managing director Narinder Sharma told news persons.
Sharma would be ringing the bells at NYSE. Trading in the MTNL's scrip is likely to start on October 26, the last date for conversion of GDRS into ADRS, Sharma said, adding the company had made its successful public filing with the exchange on September 27 after it got clearance from the Securities and Exchange Commission (SEC). MTNL scrip of Rs 10 face value is changing hands at domestic bourses at about Rs 130.
About 11 per cent of the equity of the company is in the hands of the GDR holders.
Bureau Report
With this MTNL would become the second telecom PSU to be listed at overseas stock exchange after Videsh Sanchar Nigam Ltd (VSNL). “We are ringing the bells at NYSE on November 8, the period of four weeks to global depository receipts holders to convert their holdings into American depository receipts (ADRS) ends on October 26, MTNL chairman and managing director Narinder Sharma told news persons.
Sharma would be ringing the bells at NYSE. Trading in the MTNL's scrip is likely to start on October 26, the last date for conversion of GDRS into ADRS, Sharma said, adding the company had made its successful public filing with the exchange on September 27 after it got clearance from the Securities and Exchange Commission (SEC). MTNL scrip of Rs 10 face value is changing hands at domestic bourses at about Rs 130.
About 11 per cent of the equity of the company is in the hands of the GDR holders.
Bureau Report