Facebook to replace Infy on Nasdaq-100
Nasdaq, in a statement, said: “Facebook will become a component of the Nasdaq-100 index, the Nasdaq-100 Equal weighted index and Nasdaq-100 technology sector index prior to the market opening on Wednesday, December 12, 2012. Facebook Inc will replace Infosys.”
Infosys had on Friday announced that “it would shift its ADS to the NYSE from its current listing at Nasdaq and is also seeking to list its ADS on the Paris and London Exchanges of NYSE Euronext”.
Infosys, which became the first Indian company to be listed on Nasdaq in 1999, currently has a market capitalisation of $25 billion. Facebook, which debuted its IPO in May, 2012 has a market cap of $59 billion. However, the company was very categorical in stating that the shift would not alter the float, share/ADR count and capital structure.
The shift by Infosys to the NYSE has more to do with broadbasing its reach among investors. Infosys CEO S D Shibulal said: “Our decision to transfer our American Depository Shares listing to NYSE is motivated by a desire to leverage the NYSE Euronext partnership to empower our investor base, increase access to our stock for European investors and broaden the trading window available for our global investors.”
Infosys currently generates around 22% revenue from the Europe and has plans to
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