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23-02-2000 10:48:21

MTNL mulls US Listing

MTNL is planning to get listed on the New York Stock Exchange (NYSE) by April-end and is filing its
application with Securities Exchange Commission (SEC) and NYSE on March 15.
The company will allow its GDR holders to shift their holdings to American Depository Receipts (ADRs)
and the structure for conversion will be decided soon. The company has already appointed ICICI as
advisor for the listing and PriceWaterhouseCoopers as accounting consultant.
The MTNL had already completed accounting under US GAAP, which was one of the prerequisites for
listing in US bourses. The company will initially get listed on NYSE by converting its existing GDR, and at a
later stage will go for an ADR issue as part of the company’s fund mobilising programme.
Observer India quoted unnamed company officials saying , "The application for listing will be made on
March 15 and we are expecting to get listed on NYSE by April-end or early May as SEC takes about 30
days to clear the proposal."
Meanwhile, MTNL has decided to complete its Rs 2,000 crore bond issue in two tranches. The first
tranche of Rs 1,000 crore would be issued in the first week of March and the second part would be
launched in the next financial year according to the same news report . The bonds would have a tenure of
five years, with a three-year put and call option, and some portions would have a floating rates as well.
Earlier, the company was planning to complete the whole issue before the end of this financial year. MTNL
is raising these funds for the Department of Telecommunications as the latter could not go directly to the
market.
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23-02-2000 10:44:37

MTNL to undertake treasury operations

According to a report in Observer India MTNL is planning to start treasury operations to increase returns
on investments.
MTNL which has an investable fund of around Rs 500 crore, plans to invest it in short-term government &
corporate papers for a period of 90 days instead of parking them in short-term fixed deposits of banks,
which offer only 4 to 5 per cent returns. MTNL by investing in high yielding government securities and
‘AAA’ rated corporate papers could get a higher yield of around 9 per cent, which meant an additional
return of around 4 to 5 per cent. . Most of these funds are collections made through telephone & and other
bills.
MTNL has also set up a treasury department to handle the investments and is also planning to seek support
of professional portfolio managers.
The report quoted MTNL finance director S Sundresan as saying , "We have decided to change our
investment strategy to maximise our returns on investments."
Mr Sundresan added that the company was in talks with several merchant bankers in this regard.
He also added that the company was also planning to pick up debt papers from the secondary market,
which were to be redeemed in three months’ time.

[isny]

Nasdaq listing hin oder her,

das Unternehmen ist ein absoluter blue blue chip und
in einem Jahr wird man sagen:
haette man doch .....

Ich hab bei 13.60 eigekauft und stay long.

Gruss
Isny

[pitch]

Mahanagar halten oder in einen Indien-Fonds umsteigen und
die speziellen Kenntnisse des Fondsmanagers nutzen?
Wo liegen die besseren Chancen?

[golden nugget]

hi pitch zu deiner frage umsteigen in indien fond,
da kann ich dir india growth fund empfehlen. wird auch in deutschland gehandelt. der besondere clou bei diesem fund er notiert ca. 25 % unter seinem inneren Wert. habe mir gerade heute den fond mal selbst angesehen. unter anderem hält der fond auch mahanagar und satyam infoway im bestand. sommit hast du beides. und das zum discountpreis.

burss
golden nugget

[balhan]

Hallo Indien-Fans,

folgender Artikel stand gestern in der Wirtschaftswoche (Nr. 10, 2.3.2000, Seite 210)

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MAHANAGAR

REGIONAL STARK


Indiens Börse kletterte in den vergangenen Wochen auf neue Rekordmarken, bietet aber weiterhin gute Investitionschancen. Die Aktien von Videsh Sanchar erzielten bisher Kursgewinne von mehr als 200 Prozent (Wirtschaftswoche 41/1999 zu 13 Euro). Anleger sollten hier unbedingt standfest bleiben. Für einen Nachkauf empfehlen sich nun die Titel des Telekommunikationskonzerns Mahanagar Telephone Nigam (MTNL).
Die geringe Telefondichte in Indien von nur zehn Prozent macht das riesige Wachstumsfeld für den Exmonopolisten deutlich. MTNL verfügt in den Regionen Mumbai und Delhi über eine ausgesprochen starke Marktposition. Der Ausbau des Internetgeschäfts und der Einstieg in den Mobilfunk dürften die Erträge zusätzlich in die Höhe treiben. Die jüngsten Kursavancen sollten daher nur Auftakt sein für eine längerfristig angelegte Neubewertung der immer noch sehr günstigen Aktie. Das KGV für 2001 liegt nur knapp über zwölf - ungewöhnlich niedrig für die Telekommunikationsbranche.
Wertpapier-Kenn-Nummer 911 115.

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Schöne Grüße