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Technology Stocks : Infosys: First Indian Company on NASDAQ -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (9)	3/11/1999 2:39:00 PM
From: Chinacat	Respond to of 67

Infosys brings India to Wall Street Also, Schwab settling TheGlobe.com complaints By Darren Chervitz, CBS MarketWatch Last Update: 1:05 PM ET Mar 11, 1999 Also: Net Stocks NEW YORK (CBS.MW) -- Infosys Technologies sold 1.8 million American depositary receipts to the public Thursday, becoming the first Indian company to list on one of the U.S. stock markets. IPO Commentary IPO: First Words Week's IPOs Pick of the Week Recent Filings Aftermarket ABCs of IPOs The information technology company priced its U.S.-listed shares at $34 each, and the stock (INFY) jumped 11 5/8 to 49 in early trading. Each depositary receipt is equal to one-half of the company's regular shares, which have been trading on three Indian stock markets. In fiscal 1998, Infosys notched a profit of 41 cents a share on sales of $68.3 million, vs. a profit of 23 cents and sales of $39.6 million in the year-ago period. Other IPO news