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Infy applies to USSEC to register new securities

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CIOL Bureau
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BANGALORE, INDIA: Indian Software services giant Infosys Technologies filed a prospectus with the US Securities and Exchange Commission on Wednesday to enable the registration of new securities in advance.

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In the 'F-3' form, filed with the US market regulator, Infosys said “From time to time, selling shareholders of Infosys Technologies Limited may sell American Depositary Shares, or ADSs, representing our equity shares in amounts, at prices and on terms described in one or more supplements to this prospectus.”

The statement said each ADS offered represents one equity share and that Infosys will not receive any proceeds from any offering pursuant to this prospectus. All ADSs sold pursuant to this prospectus will be sold on behalf of the selling shareholders.

“The selling shareholders may offer and sell ADSs representing our equity shares to or through one or more underwriters, dealers and agents, or directly to purchasers, on a continuous or delayed basis,” it added.

Infosys chief financial officer V. Balakrishnan told Dow Jones Newswires that the current SEC registration expires in November and the latest filing is "to update and replace the current registration". The new registration will be valid for three years, he said.



Form F-3 is used for registration under the Securities Act of 1933 and this can be prepared up to two years in advance. This registration facilitates the process wherein a new issue can be offered quickly as soon as funds are needed or market conditions are favorable, said a PTI report.

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