The Hindu Business Line : Some Indian companies keen to list on NYSE Euronext

Mr Ronald Kent (left), Executive Vice-President & Head of International Listings, NYSE Euronext, addresses a press conference in Mumbai on Wednesday. Beside him is Mr Mark Iyeki, MD-Asia Pac, NYSE. –

Our Bureau

Mumbai, May 6 Amid the turmoil in the global financial markets, some Indian companies are keen to list their shares on the exchanges operated by NYSE Euronext, Mr Ronald Kent, Executive Vice-President and Head of International Listings for NYSE Euronext, said.

Mr Kent, who has been newly appointed, said his team had over the last few days met with about half a dozen clients in New Delhi and two to three in Mumbai. “We have had meetings with some existing clients, potential clients, intermediaries and government officials,” he said. “We are scheduled to meet a few more clients over the next two days.”

The Executive Vice-President is responsible for international listings on NYSE Euronext coming from Asia, Europe, and Africa.

On the kind of Indian companies that are looking to raise money from listing abroad, Mr Kent said: “The companies are in the obvious sectors that are contributing to the GDP growth. They see the need for growth and want to raise capital from international markets.”

Indian companies have raised about $13 billion from international capital markets over the last 10 years, of which 70 per cent was raised through NYSE and 12 per cent through the London Stock Exchange, he said.

NYSE Euronext represents nearly 40 per cent of the world’s cash equities trading volumes. Its equities markets comprise the New York Stock Exchange, Euronext, NYSE Arca, and NYSE Amex. In India, the company holds five per cent stake each in the National Stock Exchange and the Multi Commodity Exchange.

On if there would be a conflict of interest arising from its stakes in competing stock exchanges (now that MCX will also start equity market operations), Mr Kent said there would be none and that NYSE Euronext hopes to continue working with both exchanges.

More Stories on : Stocks | Stock Exchanges

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Sahara AMC files for open ended debt scheme

General insurers, MFs shifting focus to commercial papers

New Pension Scheme: Doubts over initial success

Shipping stocks better Sensex

Some Indian companies keen to list on NYSE Euronext

Tatas sell 1.03 crore shares of TCS

RS Software promoters’ holding set to rise to 32%

Profit taking pulls Sensex below 12K

Momentum counters shed open interest

Gammon India (Rs 82.7): Buy

Day Trading Guide