TELUS International launches IPO roadshow
January 25 2021 - 7:22AM
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$23 and US$25 per share. TELUS
International will list its subordinate voting shares on the New
York Stock Exchange and Toronto Stock Exchange under the ticker
symbol “TIXT”.
Following the IPO, TELUS is expected to hold
approximately 66.6% of the combined voting power of TELUS
International (68.0% if the underwriters’ over-allotment option is
exercised in full) and Baring Private Equity Asia is expected to
hold approximately 31.5% of the combined voting power of TELUS
International (29.9% if the underwriters’ over-allotment option is
exercised in full).
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 $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.
About TELUS InternationalTELUS
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 RelationsIan
McMillan(604) 695-4539ir@telus.com
Media RelationsSteve
Beisswanger(514) 865-2787Steve.Beisswanger@telus.com
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