Satyam investors to profit from share ADR exchange

05 May 2005

Equity

Satyam Computer is selling up to 15m American depositary receipts (including a 2m ADR greenshoe) in a reverse tender sale, as pioneered by Infosys Technologies in 2003.

Satyam shareholders tendered 50m ordinary shares for resale through Citigroup, JP Morgan and Merrill Lynch in ADR format. ...

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