Zee News September 22, 2009 Dual Listing Not Possible Without Full Convertibility
Dual listing not possible without full convertibility:
STAFF WRITER 10:47 HRS IST
New Delhi, Sep 20 (PTI) India will have to amend host of laws and make rupee fully convertible before allowing dual
listing of shares as is being proposed by the South African telecom major MTN.
"Dual listing is not feasible in short term as there are amendments required in FEMA to allow full capital convertibility.
These are major bottlenecks," Prime Database Chairman and Managing Director Prithvi Haldea said.
Pointing out that dual listing is not popular globally, he said, "The government will have to amend Companies Act to
allow dual listing, which is not allowed currently."
Expressing similar view, SMC Capital Equity head Jagannadham Thunuguntla said, "If the government is
committed for dual listing, it can be feasible. However, there are huge challenges and the process will take some
He further said that there are many regulatory hurdles before it to become feasible.