News that the first Isle of Man company has been listed on the New York Stock Exchange has been welcomed by the Department of Economic Development.
Island-based international law and professional services group Cains last week supported Eros International in listing its existing shares and launching an initial public offering on the NYSE.
DED minister John Shimmin described the US debut of Eros, a global company in the Indian film industry, as "a further endorsement of the Isle of Man's credentials as a capital markets listing centre and a testament to the quality of our commercial law firms."
Mr Shimmin said the move signals to other foreign companies who favour a New York listing rather than London, that the Isle of Man is now a successful route to doing that.