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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (8123)	10/11/1999 9:51:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

`Many cos already qualify for Nasdaq listing'-Patrick Sutch (Director Nasdaq) Our Bureau -BL MUMBAI, Oct. 11 IT is not that Indian companies will find it difficult to get listed on the Nasdaq and many of them already qualify for a listing there, a senior official of Nasdaq said. "A major step towards listing on the Nasdaq now mainly depend on the willingness and the preparedness of the managements," said Mr. Patrick N.S. Sutch, Business Development Director, Asia/Pacific of Nasdaq. Basically the companies need to have a good story to sell it to the US investors. ``In the US investors do not buy stocks, but stocks are sold to them,' he said. Infosys listing there already has given a lot of confidence to other companies and Nasdaq hopes for a lot of further listings from Indian companies. ``Probably the companies are delaying their plans due to the Y2K problem,' Mr. Sutch told Business Line. More than the companies, it is the investment banks which may be asking the companies to defer plans of immediate listing, he said. Nasdaq is not only looking the technology companies here, but also at all the other growth sectors such as Fast Moving Consumer Goods (FMCG) and pharmaceuticals. ``These companies need capital and they have to come to the US where it is available in plenty.' The US investors also need not worry about their earnings as both the technology companies and some pharmaceutical companies will derive their revenue from exports. ``They need not bother about the local economic developments when they know the revenue comes from the place which they are familiar with,' Mr. Sutch said. Moreover, Nasdaq's unique market making mechanism gives it an edge over the New York Stock Exchange (NYSE) as there is no stock which goes without getting traded every day, he said. Listing on Nasdaq alone does not ensure prosperity and higher share prices.``There is no magic formula Nasdaq can offer for growth. It all depends on the company's growth,' he said. Earlier, during the seminar on `Getting listed in Nasdaq', the Infosys Managing Director, Mr. Nandan Nilekani, said it is not some thing which is very difficult. ``It is all there in the mind of those managing the company. Once the disclosures and transparency levels are met, listing becomes easy,' he said.