Infosys Technologies Ltd (www.infosys.com)
has announced pricing of its sponsored secondary offering
of 5,218,000 American depository shares (ADSs), representing
2,609,000 equity shares at a price of $49.00 per ADS.
underwriters have a seven-day option to purchase up to
782,000 additional ADSs, representing 391,000 equity shares.
will not receive any proceeds of this offering and the
net proceeds after the issue expenses will be returned
to all the selling shareholders within 30 days of the
closing of the offering. Earlier, on 25 July 2003, the
Indian invitation to offer concluded with 10,164 offers
for 14,863,802 equity shares being offered for sale in
the sponsored ADS offering.
unallocated shares will be returned to all the selling
shareholders by 16 August 2003. The maximum offer size
of the Indian invitation to offer is 3,000,000 equity
offering was lead-managed by Citigroup, Goldman Sachs
(Asia) LLC and Merrill Lynch & Co, and co-managed
by Deutsche Bank Securities and UBS Investment Bank.
copy of the final prospectus may be obtained by writing
to the offices of Citigroup Global Markets Inc, 388 Greenwich
Street, New York, New York 10013; Goldman Sachs (Asia)
LLC, 68th Floor, Cheung Kong Centre, 2 Queen''s Road Central,
Hong Kong; or Merrill Lynch, Pierce, Fenner & Smith
Incorporated, World Financial Center, North Tower, New
York, New York 10281-1332.
is very proud of its association with Infosys and we are
delighted at this ground-breaking move by one of India''s
premier companies," says Robert Greifeld, president
and CEO, Nasdaq Stock Market. "India is at the forefront
of economic reforms and has produced some of the most
exciting companies which are of global scale and quality.
We believe that Nasdaq is the natural home for such Indian
is the world''s largest electronic stock market. With approximately
3,500 companies, it lists more companies and, on average,
trades more shares per day than any other US market. It
is home to category-defining companies that are leaders
across all areas of business including technology, retail,
communications, financial services, media and biotechnology
Nasdaq Official Closing Price (NOCP) was introduced on
14 April 2003 for all Nasdaq National Market and SmallCap
securities. NOCP offers investors a transparent primary
market close that is validated and subject to Nasdaq and
National Association of Securities Dealers (NASD) surveillance.
the launch of NOCP, Nasdaq enhanced the accuracy and value
of its primary market closing price in Nasdaq-listed issues.
NOCP is provided to market participants and investors
through market data distributors.