The Hindu Business Line : FII stake in Satyam up at 56.59 pc

EVEN as Satyam Computer Services Ltd is in the process of seeking the US Securities and Exchange Commission (SEC) nod for an American Depositary Shares (ADS) issue, the third quarter ended December 31, 2004, has seen the foreign institutional investors' holding going up to 56.59 per cent from 54.04 per cent in the second quarter.

The total foreign shareholding too has gone up from 65.98 per cent (209,536,157 shares in September) to 68.52 per cent (218,484,615 shares) of the total capital during the third quarter.

It may be recalled that the company had recently taken members' nod for ADS shares that would enable the company to increase the overall shares traded on the New York Stock Exchange to about 20 per cent.

As per the company's latest filing made with the stock exchanges, the Satyam scrip has seen new entrants such as the Government of Singapore which has acquired about 1.81per cent, Deutsche Securities Mauritius Ltd(about 2.15 per cent) and JP Morgan Asset Managers and Aberdeen Asset Managers.

Other FIIs to join the fray with over 1 per cent stake include Goldman Sachs Investment Mauritius and CLSA Merchant Bankers.

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