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Tata Motors lists on NYSE

Sept. 27, 2004 at 2:01 PM   |   Comments

PUNE, India, Sept. 27 (UPI) -- India's leading automotive manufacturer, Tata Motors, became the first company Monday in the Indian engineering sector to list its securities on the New York Stock Exchange.

The company has plants in Jamshedpur, Pune and Lucknow.

The company listed its depositary shares on the NYSE through the conversion of its existing international global depositary shares into American depositary shares).

Ratan Tata, chairman, Tata Motors was in New York for the listing and rang the opening bell on the NYSE in the presence of senior officials of Tata Motors and the NYSE.

To date there are 23.1 million outstanding ADSs, each representing one underlying ordinary share of the company.

The company's market capitalisation is around $3.3 billion.

Topics: Ratan Tata
© 2004 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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