**OT** India Stock Exchanges, LSE In Information Swap Pact
Thursday, February 24 10:27 PM SGT
BOMBAY (Dow Jones)--The Bombay Stock Exchange and the National Stock Exchange have signed a deal with the London Stock Exchange to share information on dual-listed stocks.
Anand Rathi, president of the BSE, said the exchanges' memorandum of cooperation will also help share expertise and knowledge.
Ian Salter, LSE deputy chairman, said 18 Indian companies had listed in London, raising around $2.4 billion, and encouraged other Indian companies to follow suit.
He said the volume of trade in London-listed Indian companies was more than $10 billion in 1999, compared with $680 million in 1993. This showed international investors' confidence in the Indian economy, particularly when other Asian economies had faced setbacks, Salter said.
Separately, Caroline Goodman, in charge of global business development for the London bourse, said she is in discussions with 40 to 50 Indian companies interested in a London listing.
She said interest remains strong, despite a series of U.S. listings planned by Indian companies.
-Dow Jones |
