Infosys to Move to the Big Board
Originally posted to Exchanges.nyx.com by Marc Iyeki, NYSE Euronext managing director, Asia Pacific.
Global consulting and technology giant Infosys (INFY) announced it will be transferring its listing to the New York Stock Exchange from the Nasdaq Global Select Market, becoming the 51st company representing $150 billion in market capitalization to transfer or announce intent to transfer to NYSE Group from Nasdaq since 2010, and the 9th to do so while a member of the Nasdaq 100 index.
For the convenience of its global investors, Infosys is also seeking to list on NYSE Euronext markets in Paris and London. For the Paris listing, Infosys is using a special procedure – called Fast Path - that gives SEC-registered companies a fast, easy and inexpensive way to add a European listing, based substantially on its existing SEC filings. They will be the 11th company to leverage this procedure – others include Success Factors, Coca Cola Enterprises, and Cliffs Natural Resources. Infosys will then passport its European “Fast Path” prospectus cleared by the French regulator to the United Kingdom regulator to achieve a listing on NYSE Euronext London market.
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,” said S. D. Shibulal, CEO and MD, Infosys.
Ranked 19 in Forbes’ list of the World’s Most Innovative Companies, Infosys will join NYSE’s list of consulting and computer services leaders such as Accenture (ACN), IBM (IBM), SAP (SAP), Salesforce.com CRM), and its Indian peer, Wipro (WIT). It will also find itself among a growing number of new generation tech companies – Linkedin (LNKD), Yelp (YELP), Fusion-io (FIO), Palo Alto Networks (PANW), Workday (WDAY), to name a few, that call the NYSE home.
Infosys was established as a small start up in 1981, with initial capital of only $250. Its initial human capital, however, more than made up for its modest financial beginnings, driving the firm to international success and a market capitalization of around $25 billion.
Founder N.R. Narayana Murthy, a billionaire and philanthropist and now Chairman Emeritus, was listed as one of the “12 greatest entrepreneurs of our time” by Fortune magazine in 2012. Co-Founders are S. Gopalakrishnan, Executive Co-Chairman, and CEO S.D. Shubulal. Mr. K.V. Kamath, former Chairman and CEO of ICICI Bank (IBN), is the first non-Founder to hold the position of Infosys Chairman, although in a non-executive capacity.
The company has a global presence with 66 offices and 69 developments centers in US, India, China, Australia, Japan, Middle East, UK, Germany, France, Switzerland, Netherlands, Poland, Canada and many other countries. Its multicultural workforce includes 95 nationalities. In the US, Infosys has18 facilities and expects to have hired nearly 2,000 workers by year-end.
Infosys will become the second India-based company to list on the NYSE this year, following the IPO listing of Amira Nature Foods (ANFI) last month. Other NYSE-listed Indian companies include Tata Motors (TTM) and Sterlite Industries (SLT). About 25% of operating companies listed on the NYSE are based outside the US.
For more information on “why” and ‘how” companies are transferring their listings to the New York Stock Exchange please click here:http://usequities.nyx.com/listings/transfers
For more information on “why” and “how” companies are leveraging their US listing to gain an additional listing on NYSE Euronext markets in Europe, please click here: https://europeanequities.nyx.com/listings/fast-path