London Stock Exchange Group welcomes Dish TV’s Global Depository Receipts to trading
London Stock Exchange Group this week welcomed Dish TV’s Global Depository Receipts (GDRs) to trading on the Professional Securities Market. This follows the completed merger between Dish TV and Videocon d2h, creating a leading Direct-to Home (DTH) television service provider in India, valued at over $2.2 billion and serving over 29 million subscribers.
Dish TV has admitted 277 million GDRs to trading on London Stock Exchange today. The company has a market capitalisation of approximately $2.2 billion, based on the ordinary shares listed in India.
In the Telecommunications, Media and Technology (TMT) sector, Dish TV’s London GDR listing comes shortly after the start of trading of GDRs of Argentina’s largest telecommunications company, Cablevisión Holding S.A, on London Stock Exchange in January 2018. This followed a merger between the company’s subsidiary Cablevision S.A. and Telecom Argentina S.A. in 2017, valuing the combined company at $11.5 billion.
Jawahar Goel, Chairman & Managing Director, Dish TV India:
“The amalgamation of Videocon d2h and Dish TV has put the new entity on the road to exceptional future growth and profitability. Having London Stock Exchange as a partner in that journey will make it much more rewarding. We now look forward to leading the DTH industry in India to the next level”.