Satyam becomes first Indian company to list on three major stock exchanges. It rings first-ever opening bell at the National Stock Exchange. Beginning this January, the NSE will have the senior management of listed companies ring the trading bell at the exchange once every month. And with Satyam setting a benchmark with its listing on Euronext, it is only apt to have chairman, Mr. Ramalinga Raju, initiate this practice.
Satyam Computer Services announced its intention to list its American Depository Shares (ADS) on Euronext in Amsterdam. With the Euronext listing, Satyam will become the first Indian company to list on three major exchanges around the world, making it a truly globally-tradeable entity. The announcement was made by Satyam chairman Mr. Ramalinga Raju at the first-ever opening bell-ringing ceremony at the National Stock Exchange (NSE) here. Other Satyam board members and leaders were present at the ceremony.
Satyam will also be the first company to list its existing ADSs on Euronext using the exchange's Fast Path application, a means of expediting the cross-listing of non-European Union-based companies that are already listed on the NYSE. This initiative provides Satyam the means to directly access a larger pool of capital, and gives investors across the EU the opportunity to directly invest in Satyam through a local exchange. The NYSE, Euronext and NSE are affiliated entities. Upon listing on Euronext, Satyam establishes its association with all three exchanges under one group, and strengthens its presence in three important markets.
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