London Stock Exchange scouts for Indian tech cos

By SiliconIndia   |   Thursday, 19 September 2002, 07:00 Hrs
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The London Stock Exchange (LSE) is looking at Indian technology companies as potential listed members to benefit from the London market. It is trying to woo Indian companies by offering a range of markets and options to an international listing.

BANGALORE: Deborah Medley Foye, LSE's international business development country manager, said, "There has been a significant increase in the trading of Indian paper in London this year. Indian companies can take advantage of this opportunity, it is a strong sign of the growing investor interest for Indian companies in London and makes a London listing even more attractive than before."

The Indian shares and depositary receipts registered a growth of 32 percent in trading at the LSE this year as against the corresponding period last year. January to August 2002 witnessed 631.7 million Indian shares and depositary receipts traded, compared with 480.2 million during January to August 2001. There are 18 Indian companies listed in London, which includes Hexaware, SSI Limited and Himachal Futuristic as the only technology companies.

A release stated as London offering a range of markets and routes to an international listing tailored for Indian companies, including retail and professional depositary receipts, shares and bonds. The officials from the exchange are meeting a lot of prospective companies in India for a possible listing.

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