INFOSYS TO USE ADR FUND FOR EXPANSION
Article Abstract:
Infosys Technologies Ltd plans to raise $57.71 million by floating 1.8 million American Depository Receipts (ADR) at a price of $27.88 per share. The proceeds of ADR funds will be utilised towards its expansion plans, acquisition, working capital and for setting up infrastructure. Some of the growth plans chalked out by the firm includes extending its services to packaged applications and implementation, electronic commerce and Internet/Intranet facilities. It also proposes to raise per capital revenue of individual worker. (gs) (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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INFOSYS 1:1 BONUS OKAYED
Article Abstract:
Infosys Technologies Limited approved the issue of 1:1 bonus shares at an extraordinary general meeting (EGM). The record date for issue is fixed as March 5, 1999. The shareholders have given their approval for increase in the authorised share capital of the company from Rs30 crore to Rs50 crore. After the bonus issue, the company's paid up capital will surge from Rs16.02 crore to Rs32.03 crore. (um)(psr)
Comment:
Infosys Technologies Limited approved the issue of 1:1 bonus shares at an extraordinary general meeting (EGM).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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INFOSYS SET TO LIST ADR OFFER ON MARCH 11
Article Abstract:
Infosys Technologies Ltd (ITL), a software company, will be listing its proposed American Depository Receipt (ADR) on the Nasdaq on March 11, 1999. ITL will be the first Indian company to get listed on a global stock exchange. The proposed ADR involves the issue of 900,000 equity shares excluding the underwriters' over-allotment option. The proposed ADR is of $57.70 million. (ag)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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