This is a discussion on New York Stock Exchange (NYSE). within the Investment forums, part of the Financial Services category; Leading Indian IT services provider Patni Computers Ltd Thursday announced the fixing of their American Depositary Shares (ADS) at $20.34 ...
Leading Indian IT services provider Patni Computers Ltd Thursday announced the fixing of their American Depositary Shares (ADS) at $20.34 on the New York Stock Exchange (NYSE).
Patni Computers will have 6,875,000 ADSs in its initial public offering and listing on NYSE.
While it trades in the Bombay Stock Exchange and the National Stock Exchange under the ticker symbol "PATNI COMPUT" and "PATNI" respectively, it will use he symbol "PTI" for NYSE, a company statement said.
The ADS offering comprises 5.125 million primary ADSs, 1.75 million secondary ADSs and up to an additional 1.03125 million primary ADSs under the over-allotment option given to the underwriters.
The underwriters are Goldman Sachs (Asia) LLC, Merrill Lynch & Co, ABN AMRO Rothschild LLC, Jefferies and Macquarie Bank Ltd.
Each ADS represents two equity shares. The company has filed a registration statement with the Securities Exchange Commission of the US for the offering.
Patni Computer Systems Limited offers its services through industry-focused practices, including insurance, manufacturing, financial services and telecommunications and through technology-focused practices.