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

To: Mohan Marette who wrote (3229)	11/20/1998 1:04:00 AM
From: Nandu	Read Replies (3) \| Respond to of 12475

Infosys puts off ADRs. bloomberg.com India's Infosys Defers Plans to Sell $75 Mln in ADRs This Year Bangalore, India, Nov. 19 (Bloomberg) -- Infosys Technologies Ltd., a computer software producer, deferred plans to sell a maximum of $75 million in American depositary receipts in 1998 because of a slump in demand for new shares in the U.S. ''There has been no initial public offerings in the U.S. of late,'' said N.R. Narayana Murthy, the chairman of one of India's best known and highly profitable software companies. ''The primary capital market there is down right night now.'' He said the company will sell the receipts once the market for new shares turns buoyant in the U.S. Infosys announced the share sale plans in December last year to raise money to invest in technology and infrastructure and create value for its brands as it breaks into competitive markets in the U.S. and Europe.