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INFOSYS TOP BRASS EARN US$191 MLN VIA SHARE SALE FOR ADS ISSUE.
MUMBAI, Dec 1 Asia Pulse - Domestic IT major Infosys Technologies' (BSE:500209) top executives and directors have sold shares worth Rs 8.63 billion (US$191.78 million) in a secondary offering of 30 million American Depository Shares, which could make it the first Indian company in the coveted Nasdaq 100 index.
The total ADS issue is worth US$1.6 billion (Rs 71.39 billion) based on the price that had been fixed earlier of US$53.5 per ADS.
The group of eight directors and executive officers had collectively offered over 130 million shares of which a total of 3.5 million shares worth Rs 8.63 billion have been sold, based on the ADS price of US $53.5.
The ADS offering includes offers from almost the entire top-brass of the company -- non-executive ...
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...secondary American depository shares (ADS) issue. It had floated a sponsored secondary...for $294 million. The second ADS issue is expected to be in the range...to $700 million. The proposed ADS issue is likely to help Infosys to get...
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...million American Depository Share (ADS) issue. The company has said...conversion of 30 lakh domestic shares into ADS. The Government...cleared the proposal. The ADS issue is expected to increase...existing Indian equity shares. The investors will...
Source: HighBeam Research, INFOSYS TOP BRASS EARN US$191 MLN VIA SHARE SALE FOR ADS ISSUE.