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BSE recognised as a DOSM by US SEC


Maharashtra,Business/Economy


Author : Indo Asian News Service

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Mumbai, May 16 (IANS) Stock exchange major BSE on Wednesday said that it has been recognised as a "Designated Offshore Securities Market" (DOSM) by the United States Securities and Exchange Commission (SEC).

According to the stock exchange major, the DOSM status allows sale of securities to US investors through the trading venue of BSE without registration of such securities with the US SEC and "thus eases the trades by US investors in India".

Further, BSE said that the DOSM status is expected to primarily benefit securities issued in US private placements to institutional investors.

"The availability of a liquid resale market is expected to make exempt offerings by BSE-listed companies more attractive to US investors," the exchange said in a statement.

"The recognition will also enhance the attractiveness of Indian Depository Receipts (IDRs) amongst US investors."

--IANS

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