 "Mastek gains as US arm gets clearance to list shares on NYSE")
Shares of Mastek has moved higher by 10% to Rs 429 on the National Stock Exchange (NSE) after the company’s US subsidiary, Majesco, received the clearance for listing its shares on the NYSE.
“Majesco, the company’s subsidiary in USA, has received the clearance from the NYSE Listing Committee for listing of Majesco’s shares on the NYSE MKT,” Mastek said in a statement.
"Clearance from the NYSE Listing Committee is an important milestone in the process of listing Majesco’s shares," it added.
The company said, the rest of the milestones for closing of the merger of Cover All Technologies by end June 2015 are as per schedule.
The stock opened at Rs 393 and touched a low of Rs 386 on the NSE before the announcements. The trading volumes on the counter more than doubled with a combined 1.58 million shares changed hands on the NSE and BSE till 1259 hours.
“Majesco, the company’s subsidiary in USA, has received the clearance from the NYSE Listing Committee for listing of Majesco’s shares on the NYSE MKT,” Mastek said in a statement.
"Clearance from the NYSE Listing Committee is an important milestone in the process of listing Majesco’s shares," it added.
The company said, the rest of the milestones for closing of the merger of Cover All Technologies by end June 2015 are as per schedule.
The stock opened at Rs 393 and touched a low of Rs 386 on the NSE before the announcements. The trading volumes on the counter more than doubled with a combined 1.58 million shares changed hands on the NSE and BSE till 1259 hours.
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