Tata Communications has declared its intention to delist its American Depositary Shares (ADSs), as evidenced by American Depositary Receipts (ADRs), from the New York Stock Exchange (NYSE) and to terminate its ADR program. The company intends to file a Form 25 with the SEC to effect the delisting from the NYSE on or about May 28, 2013. The delisting will become effective 10 days after such filing.
The company will concentrate all trading of its ordinary shares on the BSE and NSE in India and will be terminating its current ADR program. The company’s board of directors has taken into account the recent low trading volume of its ADSs on the NYSE, the upcoming date for compliance with the Securities and Exchange Board of India (SEBI) mandate on minimum public shareholding and the associated costs of maintaining the listing and related obligations.
Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
