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Infosys today informed the exchanges that it has received nod from the New York Stock Exchange Euronext Paris to list its American Depository Shares.
Infosys has announced that the “French Autorité des marchés financiers has approved the company’s prospectus for admission of its American Depositary Shares for listing and trading on the Professional Segment of NYSE Euronext Paris.’’
It further added: “On February 12, 2013, Euronext Paris S.A. approved Infosys’ application for listing and trading its American Depository Shares on NYSE Euronext Paris.’’
NYSE Euronext London listing
Infosys, which has also applied for admission to listing and trading on NYSE Euronext London, got approval from LIFFE Administration and Management. But, it however, awaits nod from the UK Listing Authority. Infosys expects UKLA to approve its listing application on February 18.
Once it gets approval, Infosys will list ADS in both the Euronext exchanges from February 20.
This listing will not alter Infosys' share count, capital structure, or current stock listing on the New York Stock Exchange (NYSE), where it also trades under the symbol “INFY”.
ADS listing on NYSE
Earlier, Infosys shifted its ADS listing to the New York Stock Exchange since December 18 from Nasdaq.
S.D. Shibulal, CEO and Managing Director of Infosys, had then said the decision to transfer ADS listing to NYSE was motivated by a desire to leverage the NYSE Euronext partnership to empower the company’s investor base.
It would also help increase access for European investors and broaden the trading window available for the company’s global investors.
Stock price
The Infosys stock gained 1 per cent to trade at Rs 2,820 on the BSE on Thursday. The Infy ADS on Wednesday had closed $51.55 on the NYSE. Its 52-week high and low were $60.86 and $37.93.
Each underlying equity represents one ADS.
NYSE Euronext
NYSE Euronext is a leading global operator of financial markets and its equity markets represent one third of the world’s equities trading.
According to analysts, European business for peers such as TCS, HCL Tech and Tech Mahindra is higher than Infosys and with 75 per cent of business coming from the US, Infosys wants to have a better revenue mix.
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