Software major Infosys on Friday announced that it would shift its American Depository Shares (ADS) to the New York Stock Exchange (NYSE) from its current listing at Nasdaq.
In an notice to the stock exchanges, the company said it is “also seeking to list its ADS on the Paris and London Exchanges of NYSE Euronext. “The NYSE Euronext listing will not change Infosys float, share/ADR count and capital structure." the company stated.
Infosys ADS will begin trading on the NYSE Euronext markets in the US under the ticker symbol ‘INFY’ on December 12.
Infosys CEO SD Shibulal said, “Our decision to transfer our American Depository 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.”
NYSE Euronext CEO Duncan Niederauer said, “Infosys will benefit greatly from our leading global community, superior visibility platform and innovative market technology.”
The Infosys scrip closed at $44.66 on Nasdaq on Thursday showing a gain 2.8%. According to the company's annual report as of March 31, there 41,689 record holders of ADRs which translates of 77.36 million ADS.
Infosys was the first Indian firm listed on NASDAQ in 1999 when it touched a revenue of $100 million. It was followed by sponsored Secondary ADS offering in 2002.