The Hindu Business Line : Infosys will figure in Nasdaq's new listing tier

Infosys Technologies is the only Indian company to figure among the 1,200 companies included in Nasdaq Stock Market Inc's new listing tier, the Nasdaq Global Select Market.

The tier, effective from July 3, 2006, is for public companies that meet the highest listing standards in the world, with measures including market value, liquidity and earnings, a press release by Nasdaq said here.

With the creation of the new tier, Nasdaq will rename its Nasdaq National Market as `Nasdaq Global Market', the release said. Approximately 1,450 companies will be included in the Nasdaq Global Market. Indian companies Rediff.com and Sify are members of this group.

The Nasdaq Capital Market will remain unchanged with approximately 550 companies within this segment.

"All three market tiers maintain rigorous listing and corporate governance standards and have the opportunity to leverage an array of Nasdaq corporate services," the release said.

"Nasdaq companies are doing business on a global basis and we wanted to recognise that in the creation of our new listing tiers. We believe that the best quality companies will be attracted to the highest listing standards,'' the release said quoting Nasdaq's President and CEO, Mr Bob Greifeld.

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