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Satyam Computer Services (NYSE: SAY/Euronext: SAYE/NSE: SATY), a leading global information technology (IT) solutions provider headquartered in Hyderabad, today celebrated its fast-path cross-listing on Euronext Amsterdam. Satyam is the first NYSE-listed company after the merger between NYSE Group and Euronext to seek a cross-market listing on NYSE Euronext in Europe, using the convenient, cost-effective fast-path process, which relies on existing U.S. registration documents for its European listing.
To celebrate the occasion, Satyam Chairman and CEO Ramalingu Raju will ring the NYSE Opening Bell remotely from the trading floor at Euronext Amsterdam. He will be joined by NYSE Euronext Chairman Jan-Michiel Hessels, NYSE Euronext President and co-COO Catherine R. Kinney, NYSE Euronext Head of Amsterdam Market and Acting CFO, Joost van der Does de Willebois, as well as company executives and senior government officials.
“We are very pleased to welcome Satyam on Euronext. We are proud of our partnership with Satyam and applaud the company’s decision to extend its NYSE listing onto Euronext European market,” said Mrs. Kinney. “Its listing in New York and Amsterdam, and on the National Stock Exchange of India, gives the company a highly visible global presence that will benefit Satyam and its shareholders. We commend the Euronext College of Regulators and the U.S. Securities Exchange Commission for making this possible as an important step towards the globalization of financial markets.”
“Listing with Euronext will provide numerous benefits to the exchange’s customers, and to Satyam’s investors,” said Satyam Chairman and CEO Ramalinga Raju. “We are proud to join the family of European organizations on Euronext, several of which are Satyam clients. “It demonstrates Satyam’s commitment to helping European companies use IT and enhanced business processes to solve complex business problems.”
"We are delighted with the listing of Satyam on the Amsterdam market,” said Joost van der Does de Willebois. “NYSE Euronext is the first exchange group to offer a truly global, cross-border, cross-market listing program, giving companies the ability to trade and to raise capital in dollars and euros and reach investors and constituents directly across continents and multiple time-zones."
To mark the occasion in India yesterday, Raju rang the opening bell at the National Stock Exchange of India, NYSE Euronext’s partner exchange there, in which NYSE Euronext has a 5% strategic stake.
Fast-Path Cross-Listing on NYSE Euronext European markets:
• NYSE Euronext is the first and only exchange group to offer a truly global cross-market listing, trading and visibility platform, providing cost-effective, convenient access to liquidity and investors in the U.S. and in Europe.
• NYSE Euronext is the first exchange group to offer companies ability to trade and raise capital in $ and EUR, and reach investors and constituents directly across continents and multiple time-zones, regions and countries.
• NYSE Euronext is the first and only exchange group to offer a truly global cross-market listing, trading and visibility platform, providing cost-effective, convenient access to liquidity and investors in the U.S. and in Europe.
• NYSE Euronext is the first exchange group to offer companies ability to trade and raise capital in $ and EUR, and reach investors and constituents directly across continents and multiple time-zones, regions and countries.
Global investor reach and visibility programs:
Fast-path cross-listing on NYSE Euronext’s European markets enables a company to use its existing American Depository Shares (ADSs) and US registration documents to list on NYSE Euronext’s European markets. Satyam has chosen Amsterdam as its entry point into the EU capital markets under the fast-path cross-listing, globally the first of its kind. The company's ADSs will trade on one single cross-border trading platform with connectivity to the European stock exchanges of Amsterdam, Brussels, Lisbon, and Paris, in addition to trading on the NYSE in the US.
NYSE Euronext already had 70 cross-listed companies before the merger between NYSE Group and Euronext. NYSE-listed Satyam is the first company to seek a new cross-listing following the merger.
Fast-path cross-listing on NYSE Euronext’s European markets enables a company to use its existing American Depository Shares (ADSs) and US registration documents to list on NYSE Euronext’s European markets. Satyam has chosen Amsterdam as its entry point into the EU capital markets under the fast-path cross-listing, globally the first of its kind. The company's ADSs will trade on one single cross-border trading platform with connectivity to the European stock exchanges of Amsterdam, Brussels, Lisbon, and Paris, in addition to trading on the NYSE in the US.
NYSE Euronext already had 70 cross-listed companies before the merger between NYSE Group and Euronext. NYSE-listed Satyam is the first company to seek a new cross-listing following the merger.
Convenient, Cost-Effective Regulatory Requirements:
Regulators in NYSE Euronext’s European markets have agreed to a fast-path procedure in their respective countries, for non-EU companies listed on NYSE seeking a listing without a public offering in Belgium, France, Portugal or the Netherlands, using their US registration documents . As a result, US SEC-registered companies can use a “fast-track” process to obtain a secondary, “cross-markets” listing on EU capital markets using existing US filings. This is a cost-effective and convenient way for publicly-traded companies to access investors directly across the EU on multiple continents. Later this year, there is expected be one unified clearing and settlement system for NYSE Euronext’s four European exchanges - Euroclear.
Regulators in NYSE Euronext’s European markets have agreed to a fast-path procedure in their respective countries, for non-EU companies listed on NYSE seeking a listing without a public offering in Belgium, France, Portugal or the Netherlands, using their US registration documents . As a result, US SEC-registered companies can use a “fast-track” process to obtain a secondary, “cross-markets” listing on EU capital markets using existing US filings. This is a cost-effective and convenient way for publicly-traded companies to access investors directly across the EU on multiple continents. Later this year, there is expected be one unified clearing and settlement system for NYSE Euronext’s four European exchanges - Euroclear.
