Software major Infosys on Monday said it would delist its American Depository Shares (ADS) from Euronext Paris and Euronext London stock exchanges but continue to trade on the NYSE.
"Reason for voluntary delisting is the low average daily trading volume of ADS on both the exchanges," said the city-based IT major in a statement here.
The company's Indian shares of Rs 5 face value are traded on the BSE and NSE in Mumbai.
Since the listing of the ADS on Paris and London exchanges 5 year ago, its average daily trading volume has been lower than on the New York Stock Exchange (NYSE).
"There will be no change to the Infosys share/ADS count, capital structure and float, as a result of the proposed delisting from the twin Euro exchanges," said the company in a regulatory filing on the BSE.
The delisting will be after approval from Euronext Paris S.
"As the ADS will continue to be on the NYSE under its symbol 'Infy', investors can trade their ADS on the US exchange," the statement said.
The company will provide a sales facility to the ADS holders on the Paris and London stock exchanges for trading them on the NYSE.
"ADS holders, who opt for the facility, can sell their shares on the NYSE in accordance with Paris and London stock exchange rules," added the statement.
The company's blue-chip scrip ended at Rs 1,185.85 per share on the BSE, gaining Rs 22.45 from Friday closing price of Rs 1,163.40 after opening at Rs 1,170.30 and touching a high of Rs 1,191.85 and a low of Rs 1,170.30 during the intra-day trading session.
--IANS
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