Satyam becomes third Indian IT company to list on NYSE

High oversubscription for a debut ADR by Satyam Computer indicates that there might yet be life in the Asian equity markets.

Jackie Horne

May 15, 2001

Lead manager Merrill Lynch increased the deal by its maximum 20% limit after books closed yesterday (Tuesday) seven times oversubscribed. Consequently, instead of selling 12.5 million units, the software services company sold 14.5 million, raising $140.8 million, or $162 million should a 2.175 million unit greenshoe be exercised.

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