Wipro ADRs slump 47% on NYSE; co say bonus, dividend issue date not decided

Wipro ADRs slump on the NYSE; company clarifies on bonus issue

Latest News – Wipro on Monday said the date for issuing bonus or stock dividend to the holders of its American Depository Receipts is yet to be finalised, amid the ADRs witnessing steep fluctuations in pre-market trading on the New York Stock Exchange.

ADRs are instruments denominated in US dollars and the underlying shares are that of a foreign company.

According to reports, the exchange has suspended trading in Wipro ADRs. According to trading data, the company’s ADRs plunged over 47 per cent to $10.45 in pre-market trade today.

The steep volatility has been witnessed ahead of the company fixing June 14 as the record date for issuance of bonus shares to the shareholders in India.

In a late evening filing, Wipro said that in view of today’s market activity in (Read More)

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