Satyam to list in Europe

MUMBAI: Satyam said on Tuesday it will list its American Depository Shares on Euronext in Amsterdam on Wednesday aiming to further expand its presence in the European markets.
    
"We are not listing to expand our capital, but to provide us an access to the European markets," Satyam Chairman Ramalinga Raju said after the opening bell at the National Stock Exchange.
    
About 20 per cent of Satyam's revenues come from Europe. "We expect this rate of growth to continue in Europe," Raju said.
    
European markets are beginning to be important for IT companies especially Satyam, he said.
    
"Now we would have access to capital markets besides India and the US," he said. Satyam is listed in both the Indian bourses and the American, New York Stock Exchange.
    
On the fear of slowdown in the US economy, Raju said,

"Our customers continue to access our services extensively as in the past. However, we are trying to get a better understanding of the potential slowdown in the US."
    
About 60 per cent of Satyam's revenues come from the US. It has bagged the IT rights from FIFA World Cup 2010 and 2014.

The 2010 edition would be held in South Africa.