The company has floated 30 million of the receipts, worth a total of roughly $1.5 billion.
Indian outsourcer Infosys Technologies Ltd. on Tuesday issued its largest float to date of American Depository Receipts for trading on the U.S.'s tech-heavy Nasdaq stock exchange.
In its third ADR issue since 1999, Infosys floated 30 million of the receipts, worth a total of about $1.5 billion. The company also plans to place 5 million shares out for trading on Japan's stock exchanges.
The moves are widely seen as an effort by Infosys to raise its profile in some of the world's most lucrative equity markets. That should make it easier for the company to raise cash to fund expansion and acquisitions, while raising brand awareness among potential customers in the financial industry.
The Nasdaq ADRs issued Tuesday by Infosys were priced at $53.50. They closed the day at $53.44. Infosys has seen its share price rise about 36% this year on the strength of numerous outsourcing deals with Western companies anxious to tap India's low-cost workforce.
How Enterprises Are Attacking the IT Security EnterpriseTo learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Infographic: The State of DevOps in 2017Is DevOps helping organizations reduce costs and time-to-market for software releases? What's getting in the way of DevOps adoption? Find out in this InformationWeek and Interop ITX infographic on the state of DevOps in 2017.
IT Strategies to Conquer the CloudChances are your organization is adopting cloud computing in one way or another -- or in multiple ways. Understanding the skills you need and how cloud affects IT operations and networking will help you adapt.