MTNL delists ADS from NYSE lists on OTCQX

State-owned telecom services provider Mahangar Telephone Nigam Ltd (MTNL) has delisted its American depositary shares (ADS) from New York Stock Exchange (NYSE) and listed them on 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 today.

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

OTCQX provides listing platform and access to US investors 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 today ended at Rs 27.85, down Rs 0.15, or 0.54 per cent on BSE.