Infosys announced that the voluntary delisting of its American Depositary Shares from the Euronext Paris and Euronext London exchanges has been approved by the Board of Directors of Euronext Paris SA and by
Euronext London.
The primary reason for this delisting is the low average daily trading volume of Infosys ADSs on Euronext Paris and Euronext London, which is not commensurate with the related administrative requirements. During the 5-year period of the listing on Euronext Paris and Euronext London, the average daily trading volume of Infosys ADSs was significantly lower than its average daily trading volume on the New York Stock Exchange (NYSE).
There will be no change to the Infosys share/ADS count, capital structure or float as a result of the delisting from the above exchanges. Infosys ADSs will continue to be listed on the NYSE under the symbol “INFY” and investors can continue to trade their ADSs on the NYSE as before.
The delisting procedure will allow Infosys ADSs listed on the Euronext Paris and Euronext London exchanges to be sold on the NYSE. A sales facility will be provided to the holders of Infosys ADSs trading on the Euronext Paris and Euronext London exchanges and such holders will have the following options:
- Participate in the sales facility described below to sell their ADSs on the NYSE in accordance with Euronext Paris and Euronext London rules.
- Decide not to particpate in the sales facility and continue to keep their ADSs and be able to trade their ADSs on the Euronext Paris and Euronext London exchanges until the date of completion of the proposed delisting and only on the NYSE thereafter.