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Globe says Telus Int'l gears up for $500M (U.S.) IPO
2021-01-26 09:16 ET - In the News
The Globe and Mail reports in its Tuesday edition that Telus International is looking to raise roughly $500-million in an initial public offering, in what is expected to be the first of several public spinouts by Telus Corp. (all figures U.S.). The Globe's Alexandra Posadzki writes that Telus International, which provides outsourced customer service for brands such as Fitbit, Uber and on-line gamer Zynga, kicked off a road show Monday to market its IPO. The Telus subsidiary is expecting to price its IPO at between $23 and $25 a share, which would value the IT and business services company at more than $6-billion. Going public will give investors greater insight into Telus International's performance and give it a valuation more suitable for a company in the high-growth digital customer service space. Previously, Telus International's results were reported within a segment of its parent referred to as wireline, which also includes the telco's Internet and television operations and its Telus Health and Telus Agriculture subsidiaries. The shares are expected to begin trading on the Toronto Stock Exchange and New York Stock Exchange by the end of March under the ticker TIXT. Telus closed Monday at $26.86, up 42 cents.
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