TELUS announces filing of registration statement for proposed Initial Public Offering of TELUS International
January 08 2021 - 6:15PM
TELUS Corporation (TSX: T; NYSE: TU) announced today that its
subsidiary, TELUS International (Cda) Inc. (TELUS International),
has filed a registration statement on Form F-1 with the U.S.
Securities and Exchange Commission (SEC) and expects to file a
preliminary base PREP prospectus with the securities regulatory
authorities in each of the provinces and territories of Canada for
a proposed initial public offering (IPO) of subordinate voting
shares of TELUS International on Monday, January 11, 2021. The
proposed IPO is expected to consist of subordinate voting shares
offered by TELUS International from treasury and a secondary
offering of subordinate voting shares held by TELUS Corporation
(TELUS) and Baring Private Equity Asia, its selling shareholders.
The number of subordinate voting shares to be offered by TELUS
International and the selling shareholders and the price range for
the IPO have not yet been determined. In connection with the IPO,
TELUS International has applied to list its subordinate voting
shares on the New York Stock Exchange and on the Toronto Stock
Exchange.
The registration statement publicly filed by TELUS International
with the SEC today (available at sec.gov under the TELUS
International profile) and the preliminary base PREP prospectus
that will be publicly filed with Canadian regulatory authorities
(available at sedar.com under the TELUS International profile)
includes information on TELUS International’s business, operations,
material risks, governance and financial condition, including its
historical consolidated financial statements and financial
information presented on a pro forma basis giving effect to certain
completed acquisitions.
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.
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 registration statement relating to the proposed IPO of
subordinate voting shares has been filed with the SEC but has not
yet become effective. The preliminary base PREP 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 registration statement becomes effective and a receipt
for the final base PREP 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.
About TELUS TELUS (TSX: T, NYSE: TU) is a
dynamic, world-leading communications and information technology
company with $15.3 billion in annual revenue and 15.7 million
customer connections spanning wireless, data, IP, voice,
television, entertainment, video and security. We leverage our
global-leading technology to enable remarkable human outcomes. Our
longstanding commitment to putting our customers first fuels every
aspect of our business, making us a distinct leader in customer
service excellence and loyalty. TELUS Health is Canada's largest
healthcare IT provider. TELUS International is a leading digital
customer experience innovator that designs, builds and delivers
next-generation solutions for global and disruptive brands. Their
services support the full lifecycle of their clients’ digital
transformation journeys and enable clients to more quickly embrace
next-generation digital technologies to deliver better business
outcomes.
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 $700 million and 1.3 million days of service
since 2000. This unprecedented generosity and unparalleled
volunteerism have made TELUS the most giving company in the
world.
For more information about TELUS, please visit telus.com, follow
us @TELUSNews on Twitter and @Darren_Entwistle on Instagram.
Investor Relations - TELUSIan McMillan(604)
695-4539ir@telus.com
Media Relations - TELUSSteve Beisswanger(514)
865-2787Steve.Beisswanger@telus.com
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