Satyam kicks off roadshow for ADR issue

Indian IT company hopes to boost overseas presence and raise up to $130 million with NYSE listing.

Satyam Computer Services, Indias fourth-largest software exporter, has kicked off its roadshow to drum up investor interest for its proposed sale of up to $130 million of American Depositary Receipts ADR to be listed on the New York Stock Exchange NYSE.

With pricing expected on Tuesday, May 15, Satyam plans to sell 25 million shares, equivalent to 12.5 million ADRs. In its statement to the Stock Exchange of Mumbai BSE the company said it anticipates that the price of the ADR will be determined with reference to its equity shares listed in India on the BSE, the National Stock Exchange and the Hyderabad Stock Exchange. Business press in India have...

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