SEBI to streamline procedures for cross-listing of companies

07 April 2008

Mumbai: The Securities and Exchange Board of India (SEBI) is considering ways to streamline procedures for companies that have overseas operations to get listed elsewhere as well, its chairman C B Bhave said.

Speaking to reporters on the sidelines of a seminar on `India-Hong Kong Financial Sector Cooperation', Bhave said, as foreign companies were interested to be listed here, Indian firms were also showing interest to be listed abroad.

"It is our belief that companies which are listed abroad would be interested to come to the Indian market. Similarly, Indian companies which have operations in other countries would be interested in listing abroad. We want to see how to smoothen this process," Bhave said.
 
After all, he said, Asia is the happening continent and the inflows are not just confined to stock market investments, ''there are other forms of capital flows like trade flows.''

The regulator`s comments follow remarks made earlier by New York Stock Exchange Euronext chief Duncan L Niederauer that the exchange was considering listing in Asian markets, including India.

Bhave said while the regulator would encourage innovation in the market, it was also keen to safeguard the interests of investors.

Speaking at the seminar, earlier, Bhave said the country was looking to enhance cooperation between the two countries for mutual benefit.