Infosys ADS starts trading on NYSE
Country's second largest software services firm Infosys today said its American Depositary Shares (ADS) have started trading on the New York Stock Exchange (NYSE).
December 12, 2012 / 21:47 IST
Country's second largest software services firm Infosys today 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 per cent of its total number of shares, according to BSE data. Also read: Facebook replaces Infosys on Nasdaq 100 Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
