ICICI Becomes First Indian Company To List On NYSE

The shares of ICICI, a leading Indian financial services company, began trading today on the New York Stock Exchange as American Depositary Receipts. ICICI is the first Indian company and the first non-Japanese Asian bank/financial-services company to list on the Exchange. "We decided to list our shares on the New York Stock Exchange as part of our strategic vision of being a leading Indian financial-services company operating on global benchmarks," said Mr. K.V Kamath, managing director and CEO of ICICI. "We are thrilled ICICI is the first company from India to list on the NYSE and are pleased to welcome India, one of the world's largest economies, as the 48th country represented on the NYSE," said NYSE Chairman and CEO Richard A. Grasso. "ICICI is not just a leading financial services company, but a domestic player renowned for its market-driving innovations. This transaction will enhance India's image in the global market." ICICI has been setting standards for enhanced disclosure and transparency among banks/financial services companies in Asia. ICICI is among a select group of non-U.S. banks that have registered a Level 3 ADR offering with the Securities and Exchange Commission. The NYSE is the world's premier equities market and currently has approximately 3,066 listed companies from 48 countries with a total global market capitalization of $15.2 trillion that trade an average 782 million shares daily. Among them 376 are non-U.S. companies that trade an average 66 million shares daily valued at $2.7 billion.