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SEBI Has No Application For Dual Listing

22 September, 2009

India’s capital markets regulator said on Tuesday it has not received an application for dual listing, seen as a key issue holding up a finalisation of tie-up talks between Bharti Airtel and South Africa’s MTN.

Securities and Exchange Board of India (SEBI) Chairman C.B. Bhave told reporters it was “too premature” to comment on the issue of dual listings.

The country’s takeover laws would apply to all future issues of American Depositary Receipts (ADR) or Global Depositary Receipts (GDR) with voting rights, but would not be retrospective.

 


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SEBI Has No Application For Dual Listing

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