DLA Piper advises outsourced customer care provider IBEX in US$90.5 million IPO

Rhea-AI Summary

DLA Piper represented IBEX Limited in its initial public offering (IPO) of US$90.5 million in common stock. Citigroup Global Markets and RBC Capital Markets acted as joint book-running managers. IBEX, based in Bermuda, focuses on technology-enabled customer experience solutions for Fortune 500 companies and high-growth brands. The net proceeds will fund capital expenditures, debt repayment, acquisitions, working capital, and general corporate purposes. DLA Piper emphasizes its expertise in assisting foreign issuers in accessing US capital markets.

Positive

• Successful IPO raising US$90.5 million in common stock.
• Strong client base including Fortune 500 companies.

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• None.

NEW YORK, Aug. 13, 2020 /PRNewswire/ -- DLA Piper represented IBEX Limited (Nasdaq: IBEX), a portfolio company of The Resource Group, in its initial public offering of US$90.5 million of common stock. Citigroup Global Markets Inc. and RBC Capital Markets, LLC served as joint book-running managers for the offering. 

IBEX, headquartered in Bermuda, is a leading global customer experience company delivering technology-enabled solutions to help the world's preeminent brands more effectively engage with their customers. Its clients consist of Fortune 500 brands that rely on outsourced providers to maximize customer retention and improve customer expansion, as well as faster-growing brands in high-growth industry verticals.

IBEX intends to use the net proceeds from the offering for capital expenditures, repayment of indebtedness, strategic acquisitions and investments, working capital and other general corporate purposes.

"Our experience advising foreign private issuers as they access the US capital markets played a key role in our representation of IBEX in its initial public offering," said Christopher Paci, who chairs the firm's US Capital Markets practice and led the IPO deal team together with partner Stephen Alicanti. "DLA Piper is honored to have assisted IBEX in successfully completing its IPO, and we look forward to continuing to support IBEX as it builds on this important milestone to advance its growth strategy."

The DLA Piper team representing IBEX included, in addition to Christopher Paci and Stephen Alicanti, partners Drew Young, Rachel Albanese (all of New York) and Rita Patel (Washington, DC), and associates John Wei (Boston), Sne Sadhu (Phoenix), Mary Claire Blythe (Baltimore) and Jason Veit (Chicago).

DLA Piper's global capital markets team represents issuers and underwriters in a wide range of capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investment-grade and high-yield debt securities.

About DLA Piper

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com

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SOURCE DLA Piper

FAQ

What was the amount raised by IBEX Limited in its IPO?

IBEX Limited raised US$90.5 million in its initial public offering.

Who managed the IPO for IBEX Limited?

Citigroup Global Markets Inc. and RBC Capital Markets, LLC served as joint book-running managers for the IPO.

How will IBEX Limited use the net proceeds from its IPO?

IBEX intends to use the proceeds for capital expenditures, debt repayment, strategic acquisitions, working capital, and other corporate purposes.

What type of services does IBEX Limited provide?

IBEX Limited delivers technology-enabled customer experience solutions to enhance customer engagement for major brands.