Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Infy offers ADS to Japanese investors
By agencies
|
Friday, 13 May 2005, 19:30 IST
BANGALORE:IndiaÂ’s second biggest software exporter Infosys Technologies said that investors in Japan could participate in its offer of American Depository Shares (ADS) against existing local shares.
A company source said that Infosys had filed a registration statement with Japan's Finance Ministry to enable the issue, which would be through buying the stock from investors in domestic shares and converting them into ADSs.
Though more details are not forthcoming, The Economic Times had reported that Nomura International was the book-runner for the issue in Japan.
An industry source said Nasdaq-listed Infosys would decide the allocation of the shares to Japanese investors at the time of pricing the ADS issue. The issue involves an overall offer limit of 16 million shares.
The source said the trade in such a case would take place through the Nasdaq exchange, while helping Infosys gain access to Japan, which is the second-largest capital market in the world, in addition to being the No.2 in information technology spending.