Indian IT services and outsourcing giant Infosys will list on the NYSE Euronext London and Paris markets from February 20 this year, becoming the first Indian company to trade on the stock exchange.
S. D. Shibulal, CEO of Infosys, who will be in London to ring the opening bell on Wednesday, said the company's listing on NYSE Euronext enables U.K., French and other European investors direct access to Infosys ADS (American Depositary Shares), acccording to the company's statement Monday.
U.K. Prime Minister David Cameron said in the same statement: "Infosys is a great example of Indian investment in the U.K. and I'm delighted that they will be the first Indian company to be admitted to trade on NYSE Euronext London. This decision is testament to Britain's position as the gateway of choice for Indian companies wanting to invest in the European Union."
Dominique Cerutti, president and deputy CEO of NYSE Euronext, added the stock exchange helps Indian companies increase their liquidity and visibility by facilitating multiple listings under one stock exchange operator.
According to Infosys, it began trading on the New York Stock Exchange (NYSE) on December 12, 2012, under the ticker symbol "INFY". It will use the same symbol on NYSE Euronext. The Bangalore-based company is also listed on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).
On Monday, the Indian outsourcing giant, together with Wipro, Tata Consultancy Services and HCL Technologies, were identified to beto boost their presence there and capitalize on companies keen to offshore their operations to cut costs.