Mumbai, Nov. 30: Infosys is preparing to bid goodbye to Nasdaq.
The Bangalore-based technology giant, which was the first Indian company to list on the tech-heavy Nasdaq in 1999, has decided to move its American depositary shares (ADS) to the New York Stock Exchange.
A statement from the company late in the evening said that Infosys ADS will begin trading on the NYSE Euronext markets in the US under the ticker symbol "INFY" on December 12.
The statement added that until the transfer was completed, Infosys ADS would 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, however, will not change Infosys' float, share/ADR count and capital structure.
Infosys said the main objective behind the transfer was to widen its investor base.
"Our decision to transfer our ADS listing to the 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," S. D. Shibulal, CEO and MD, Infosys said.
Other Indian companies listed on the Nasdaq include Cognizant and Rediff.
Source: http://news.yahoo.com/infy-shifts-us-listing-nyse-220116104--finance.html
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