MTNL delists ADS from NYSE, lists on OTCQX

Last Updated: Tue, Jan 08, 2013 07:02 hrs

State-owned telecom services provider Mahangar Telephone Nigam Ltd (MTNL) has delisted its American Depository Shares (ADS) from the New York Stock Exchange (NYSE) and listed them on the OTCQX International Market.

"The delisting of ADS from NYSE was with effect from December 31, 2012, while trading in MTNL ADS on OTCQX commenced from January 2, 2013," the company said in a BSE filing on Monday.

The decision to delist MTNL ADS from NYSE was taken by its board on June 30, 2012.

OTCQX provides a listing platform and access to US investors and to non-US companies listed on a qualified stock exchange in their home country. Last month, IT major Infosys had transfered its ADS from Nasdaq to NYSE.

Shares of MTNL on Monday ended at Rs 27.85, down Rs 0.15, or 0.54 per cent on BSE.

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