TELUS International launches IPO roadshow
TELUS International, a subsidiary of TELUS Corporation (TU), has launched a roadshow for its initial public offering (IPO) of 33.33 million subordinate voting shares, priced between US$23 and US$25 per share. The offering includes shares from TELUS and Baring Private Equity Asia. Post-IPO, TELUS is expected to retain approximately 66.6% voting power. The IPO is subject to market conditions and requires a prospectus to be effective. Key underwriters include J.P. Morgan and Morgan Stanley.
- IPO will raise capital, enhancing financial flexibility.
- TELUS retains majority voting power post-IPO, ensuring strategic control.
- Strong backing from reputable underwriters like J.P. Morgan and Morgan Stanley.
- Market conditions may delay or affect the IPO's success.
- Dependence on the selling shareholders could impact share availability and pricing.
VANCOUVER, British Columbia, Jan. 25, 2021 (GLOBE NEWSWIRE) -- TELUS International, a subsidiary of TELUS Corporation (TSX: T; NYSE: TU), today announced it has launched a roadshow for the initial public offering (IPO) of its subordinate voting shares.
TELUS International is offering 33.33 million of its subordinate voting shares in the IPO, including 21.93 million from treasury and 11.40 million from TELUS Corporation (TELUS) and Baring Private Equity Asia, its selling shareholders. The underwriters will also have a 30-day option to purchase up to 5.0 million additional subordinate voting shares at the IPO price, less underwriting discounts and commissions. The IPO price is currently expected to be between US
Following the IPO, TELUS is expected to hold approximately
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC will act as joint lead book-running managers for the IPO. Barclays, BofA Securities and CIBC Capital Markets will act as book-running managers.
The IPO will be made only by means of a prospectus. When available, a copy of the preliminary prospectus related to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling (888) 603-5847, or by email at barclaysprospectus@broadridge.com; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; or CIBC Capital Markets, 22 Front Street West, Mailroom, Toronto, ON, M5J 2W5, by telephone at (416) 956-3636, or by email at michelene.dougherty@cibc.ca.
The prospectus relating to the proposed IPO of subordinate voting shares has been filed with the SEC but has not yet become effective. The preliminary prospectus contains important information relating to the subordinate voting shares and is still subject to completion or amendment. The subordinate voting shares may not be sold nor may offers to buy be accepted prior to the time the prospectus becomes effective and a receipt for the final prospectus has been issued by the Canadian regulatory authorities.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of TELUS International, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The IPO is subject to market conditions, and there can be no assurance as to whether or when the IPO may be completed, or as to the actual size or terms of the IPO.
About TELUS
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications and information technology company with
Driven by our passionate social purpose to connect all Canadians for good, our deeply meaningful and enduring philosophy to give where we live has inspired our team members and retirees to contribute more than
For more information about TELUS, please visit telus.com, follow us @TELUSNews on Twitter and @Darren_Entwistle on Instagram.
About TELUS International
TELUS International designs, builds and delivers next-generation digital solutions to enhance the customer experience (CX) for global and disruptive brands. The company’s services support the full lifecycle of its clients’ digital transformation journeys and enable them to more quickly embrace next-generation digital technologies to deliver better business outcomes. TELUS International’s integrated solutions and capabilities span digital strategy, innovation, consulting and design, digital transformation and IT lifecycle solutions, and omnichannel CX solutions that include content moderation, trust and safety solutions and other managed solutions. Fueling all stages of company growth, TELUS International partners with brands across high growth industry verticals, including tech and games, communications and media, eCommerce and fintech, healthcare, and travel and hospitality. Learn more at: telusinternational.com.
Investor Relations
Ian McMillan
(604) 695-4539
ir@telus.com
Media Relations
Steve Beisswanger
(514) 865-2787
Steve.Beisswanger@telus.com
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