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The NYSE Group, which offers the most liquid listing platform in the world is hoping to woo more Indian companies. There are 12 companies listed on the NYSE and one on the Euronext. Compare this to the fact that this year alone 13 companies have listed on the NYSE.
In an interview with CNBC-TV18, Ronald Kent, Executive VP and Head of International listings, NYSE Euronext discussed the opportunities for Indian companies and the road ahead for the markets.
Here is a verbatim transcript of the exclusive interview with Ronald Kent on CNBC-TV18. Also watch the accompanying video.
Q: How bad has the economic crisis been in the past 75 years? How has it impacted the desire of Indian companies to list in the NYSE?
A: I think there is a short term answer to that and a longer term answer. I think if you look at what is happening around the world, one of the things that will come out of it as you pointed out is the worst financial crisis in 75 years is a real move by investors to try and sort out quality and to ensure that the companies they are investing in are the absolute best of the best.
I think in that context for Indian companies which are emerging as world class and other Indian companies to try and respond to the strength and the growth of the Indian domestic economy looking for capital to create jobs and other opportunities in India, they are going to be looking for world class markets to raise that capital. So I think in the medium term that provides a lot of opportunity for leading markets in the
In the short term i.e. right now, there is a lot of froth still in the market in
Q: Let me ask you two news based questions. One is on Satyam issue because we understand that the NYSE has warned of a possible delisting in case Satyam cannot comply with filing of its financials. Where does that situation stand at this point and are you looking at any kind of grace period given the nature and the magnitude of the scam?
A: I can’t answer that question very explicitly for reasons I am sure you will appreciate. The matter in relation to Satyam is under close investigation by the authorities both here in
Q: Let me try and get you to say a little bit more perhaps on a possible enhancing of your stake or the NYSE’s stake in the NSE as well as the MCX. Is that something that you could look at the NYSE at this point in time?
A: I am afraid I have to say the same thing. Matters of M&A, as you will appreciate, we simply cannot comment publicly.
Q: Where do you see global equity markets because in
A: The markets have had a fantastic run. I think
Just to give you some examples as far apart in
So, I think right now investors around the world are pulling back and are asking themselves the question how much more is there left to run or how is the economic recovery going to continue, is it really going to come through strongly or does government start to have to switch off the priming pump and pull back on some of this quantitative easing and start to get taxpayers around the world to actually start to pay the bill for this stimulus that has happened, and what is the outlook then for the equity markets and the economy generally. So, I would be prudent at this stage.
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