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TELUS Files for IPO of TELUS International on New York Stock Exchange and Toronto Stock Exchange
Monday, January 11, 2021Company Profile | Follow Company
TELUS announces filing of registration statement for proposed Initial Public Offering of TELUS International
Burnaby, BC, January 11, 2021--(T-Net)--TELUS Corporation (TSX: T; NYSE: TU) announced today that its subsidiary, TELUS International, has filed a registration statement for a proposed initial public offering (IPO) of subordinate voting shares of TELUS International.
TELUS International has almost 50,000 team members and delivers integrated customer experience and digital services solutions to some of the world's most disruptive brands. The company's solutions cover customer experience, digital transformation, IT lifecycle, advisory services and digital consulting, risk management, and back-office support.
In addition to global service delivery capabilities, their multi-shore, multi-language programs offer safe, secure infrastructure, value-based pricing, skills-based resources and customer service. The company is backed by TELUS, their multi-billion dollar telecommunications parent.
Jeff Puritt, President & CEO, TELUS International
TELUS International also recently entered into an agreement to acquire Lionbridge AI, a global provider of crowd-based training data and annotation platform solutions used in the development of AI algorithms to power machine learning, for $1.2 billion (in November 2020).
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 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.
About TELUS International
TELUS International focuses on the value of human connection to design, build and deliver high-tech, high-touch customer experiences powered by next-gen digital solutions. With almost 50,000 team members and delivery centers across North and Central America, Europe and Asia, TELUS International empowers customer experience innovation through digital enablement, spirited teamwork, agile thinking, and a caring culture that puts customers first. The company's solutions cover customer experience, content moderation, digital transformation, work-from-home, IT lifecycle, advisory and digital consulting, trust & safety, and back-office support. Fueling any stage of company growth, TELUS International partners with some of the world's most disruptive brands from tech and games, communications and media, eCommerce and fintech, healthcare, and travel and hospitality. The company serves clients in over 50 languages. Learn more at: telusinternational.com
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
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 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.
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