Infosys Ltd. obtained approval from Euronext Paris and Euronext London to voluntarily delist its American depositary shares from the exchanges.
The India-based company said it made the decision since the low average daily trading volume of its ADSs on the two exchanges is not commensurate with the related administrative requirements. The ADSs will be delisted, effective July 5.
The delisting procedure will allow Infosys' ADSs listed on the two exchanges to be sold on the NYSE. Holders of the ADSs will be provided with a sales facility from June 18 to June 29. They can participate in the facility to sell their ADSs on the NYSE or opt out of it so they can continue to trade their ADSs on Euronext Paris and Euronext London until the completion of the delisting.
The move will not have an impact on the Infosys share or ADS count, capital structure or float, the company said.
