The Hindu : Business : Satyam to list on Euronext

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Wednesday, Jan 23, 2008
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Satyam to list on Euronext

— PHOTO: SHASHI ASHIWAL

EXCITING MOVE: Ramalinga Raju (left), Founder and Chairman, Satyam Computers, and Ravi Narain, Managing Director and CEO, NSE, at a listing ceremony of company’s shares at NSE in Mumbai on Tuesday.

MUMBAI: IT major Satyam Computer Services on Tuesday said it planned to list its American Depository Shares (ADS) on Euronext in Amsterdam.

As the New York Stock Exchange, Euronext and the National Stock Exchange are affiliated entities, upon listing on Euronext, it would establish its association with all the three exchanges under one group, strengthening its presence in these three important markets, Satyam said in a communique to the Bombay Stock Exchange.

With the Euronext listing, Satyam would become the first Indian company to list on three major exchanges around the world, making itself globally tradable entity.

“A Euronext listing is a significant and exciting move for the company, reinforcing our position as a global organisation,” Satyam Chairman Ramalinga Raju said.

“In addition to making investing in Satyam easier, it will enable extended trading. That is, investors can purchase stock on Euronext and sell it on the NYSE the same day,” Mr. Raju added.

Europe is a dynamic and growing market for the company and with this listing it wants to demonstrate its continued and growing commitment to the region. — PTI

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