NYSE Indian Offerings
In recent years India has come into its own as a capitalistic market. Indian companies are increasingly tapping into the US capital markets to help finance their worldwide expansion.
The following press release from the New York Stock Exchange shows just what big global players Indian companies are becoming.
It’s a new world as far as rapid growth is concerned and India is one of the nations leading the way.
==================================
Press Release
==================================
Indian Offerings Raised $6 Billion in Global Offerings on NYSE
~ Largest deals by NYSE-listed Indian Companies include: Sterlite IPO, ICICI Follow-on Offering~
NEW YORK, June 25, 2007 – Today, ICICI Bank Ltd. (NYSE: IBN), India’s largest private sector bank by assets, completed the largest offering by an Indian company, raising $4.3 billion in a global follow-on offering, half in the form of ADRs (excluding greenshoe). Trading of the additional ADRs began today, June 25th.
On June 19, Sterlite Industries (India) Limited (NYSE: SLT), India’s largest non-ferrous metals and mining company based on net sales, raised $1.75 billion (excluding greenshoe) in a global IPO on the NYSE . In its first day of trading, the ADR price rose over 9% to $14.70 on volume of 28.5 million ADRs.
Read the full article...
