Infosys to shift U.S. listing to NYSE Euronext

BANGALORE Fri Nov 30, 2012 7:57pm IST

Employees of software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012. REUTERS/Vivek Prakash/Files

Employees of software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   

BANGALORE (Reuters) - IT services firm Infosys Ltd (INFY.NS), the first Indian company to list on Nasdaq, will shift its American Depositary Shares to the NYSE Euronext NYX.N in a move it said is intended to increase access to the stock for European investors.

Infosys INFY.O, India's second-largest software services provider, is also seeking listing of its ADS on the Paris and London boards of NYSE Euronext. The moves will not affect its float or capital structure, the company said on Friday.

The company, which has been listed on the Nasdaq OMX Group Inc (NDAQ.O) board since 1999, is the third most widely held Indian stock. It will trade under the "INFY" symbol on NYSE Euronext starting December 12.

Infosys Chief Executive S.D. Shibulal said the shift to the NYSE Euronext and its London and Paris bourse will also "broaden the trading window available" for foreign investors.

Infosys and larger rival Tata Consultancy Services Ltd (TCS.NS) want to boost their business in Europe, as more European companies look to outsource IT services to cut costs.

Europe accounted for nearly 22 percent of Infosys sales in the quarter ended in September, while North America brought in 64 percent of its revenue.

(Reporting By Harichandan Arakali; Editing by Tony Munroe and Hans-Juergen Peters)

FILED UNDER:

REUTERS SHOWCASE

2015: India Outlook

2015: India Outlook

India in 2014: A dream run for markets  Full Article 

Funding Woes

Funding Woes

Co-founder of SpiceJet seeks time to finalise rescue  Full Article 

Regulating Airfares

Regulating Airfares

India considers temporary cap on airfares - government official  Full Article 

Flying Back on Course

Flying Back on Course

The inside story of the new Airbus A350 jet  Full Article 

Tracking Gold

Tracking Gold

Gold inches higher on weaker dollar, Asian buying  Full Article 

Cyber Attacks

Cyber Attacks

China condemns cyberattacks, but says no proof N.Korea hacked Sony  Full Article 

Connecting Markets

Connecting Markets

China stock connect scheme scorecard throws up surprises  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage