TELUS International, which provides customer service outsourcing and digital IT services, announced terms for its IPO on Monday. The company plans to dual list its shares on the NYSE and TSX.
The Vancouver, Canada-based company plans to raise $800 million by offering 33.3 million shares (34% insider) at a price range of $23 to $25. At the midpoint of the proposed range, TELUS International would command a market value of $6.4 billion.
The company is a leading digital customer experience innovator that designs, builds and delivers next-generation solutions for global and disruptive brands. Its clients include over 600 companies across verticals such as tech and games, communications and media, e-commerce and fintech, travel and hospitality, and healthcare.
TELUS International was founded in 2005 and booked $1.4 billion in revenue for the 12 months ended September 30, 2020. It plans to list on the NYSE under the symbol TIXT. J.P. Morgan, Morgan Stanley, Barclays, BofA Securities, CIBC, Citi, Credit Suisse and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of February 1, 2021.
