December 10, 2006

India's Infosys Now Part of Nasdaq 100

Link: Salon.com | News Wires.

Clearwater

The Nasdaq Stock Market is including Infosys among its top 100 companies as part of an annual revision to the Nasdaq-100 index.

In a statement issued Sunday, Infosys -- headquartered in the southern Indian city of Bangalore -- said its listing on Nasdaq's benchmark index would bring more global visibility to the company, which already is one of India's best known brands abroad.

Other Nasdaq-100 names -- chosen mostly on the basis of their market worth -- include Microsoft Corp., Google Inc. and Dell Inc.

Infosys' inclusion follows the company's secondary offering of 30 million American Depository Shares worth $1.6 billion. The offering, which was closed last month, involved the sale of shares held by investors on Indian stock exchanges to investors in the U.S.

About 19 percent of Infosys shares are now traded on Nasdaq.

Posted by Anupam Chander on December 10, 2006 at 10:17 PM in Globalization | Permalink