Bangalore: Software major Infosys Technologies on July 31 announced its sponsored secondary offering of 5,218,000 American Depositary Shares (ADS), representing 2,609,000 equity shares at a price of $ 49 per ADS.

The underwriters have a seven-day option to purchase upto 782,000 additional ADSs, representing 391,000 equity shares, a company statement said.

Infosys would not receive any proceeds of the offering and the net proceeds after the issue expenses would be returned to all the selling shareholders within 30 days of the closing of the offering, it said.

On July 25, 2003, the Indian invitation to offer concluded with 10,164 offers for 14,863,802 equity shares being offered for sale in the sponsored ADS offering.

The unallocated shares would be returned to all the selling shareholders by August 16, it said.

The maximum offer size of the Indian invitation to offer is 3,000,000 equity shares.

The offering was lead-managed by Citigroup, Goldman Sachs (Asia) ILC and Merrill Lynch and Co and co-managed by Deutsche Bank Securities and UBS Investment Bank, the statement said.

PTI