BANGALORE: Indian software firm Infosys Technologies Ltd said it plans to despatch invitations to Indian shareholders on July 12 for converting a part of their holdings to American Depositary Receipts.
The Bangalore-based company, India's largest listed software exporter, had said in June it was yet to decide on the timing of its move to convert up to three million local shares into U.S.-listed stocks through the issue.
Shareholders of Infosys, which became India's first firm to list on the technology-laced Nasdaq exchange in 1999, approved the conversion plan for the shares in February, in a move to increase the liquidity of its stock in the U.S. market.
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