MTNL, SCSL await SEC nod for NYSE listing

NEW DELHI, DEC. 13. Mahanagar Telephone Nigam (MTNL) said today it is likely to get listed on the New York Stock Exchange (NYSE) by mid-January, as all hurdles have been cleared.

"We have submitted all clarifications sought by the Securities and Exchange Commission (SEC) with regard to MTNL's accounting practices and other related information. We are hopeful of our scrip getting listed on the NYSE around new year time," Mr. S. Sundaresan, director (finance), MTNL, told reporters here.

He said MTNL was in touch with global investors for clarifying their doubts and their curiosity to know about the corporation's future business plans.

Satyam Computer Services, the software major with high market capitalisation, is now waiting for the approval of the Securities Exchange Commission (SEC) of the U.S. for purposes of listing on the American stock market. The managing director of Satyam Computers, Mr. B. Rama Raju, told PTI in Calcutta that the company had already obtained all the other statutory approvals required from home and from abroad. With the ensuing Christmas, it is unlikely that SEC approval would be obtained before January, he added.

Once the approval was obtained, Satyam would go for listing either on the Nasdaq or New York Stock Exchange in all probability, it would likely to happen either in January or in February, Mr. Raju said.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : Reuters, RiteChoice e-broking service for Apeejay
           group
Next     : Indo Tech's fresh plans