Infosys, India's second-largest software services provider, announced on Friday that it will transfer the listing of its American Depositary Shares (ADS) to the New York Stock Exchange (NYSE) from the NASDAQ Global Select Market (NASDAQ).
The Bangalore-based company is also seeking to list its ADS on the Paris and London exchanges of NYSE Euronext. Its trading on the NYSE Euronext markets in the US will begin under the ticker symbol 'INFY' on Dec 12.
Until the transfer is complete, Infosys ADS will continue to trade in the US on the NASDAQ. Once the separate Euronext listing process is complete, Infosys ADS will begin trading on the NYSE Euronext markets in Paris and London.
Speaking of the company's new decision, S. D. Shibulal, CEO and MD of Infosys said, "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."
"We thank NASDAQ for the support and partnership we received from them as we took the Infosys brand to the global market, and we look forward to a strong and long engagement with NYSE Euronext," he added.
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets - the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca - represent one-third of the world's equities trading.