- Telus (T) is planning to take subsidiary Telus International public
- The company’s proposed IPO would see it trade on the NYSE and TSX
- Telus Corp owns 65 per cent of Telus International, the rest his held by a private equity company
- Telus International offers multilingual customer service outsourcing and digital IT services
- Telus is down 0.19 per cent and is trading at C$26.52 per share
Telus Corporation (T) has filed a registration statement for a proposed initial public offering (IPO) of its subsidiary, Telus International.
Telus International has applied to list its subordinate voting shares on the New York Stock Exchange (NYSE) and on the Toronto Stock Exchange (TSX).
Should the IPO go ahead, shares would be issued by both Telus Corporation and the private equity firm which also owns a stake of Telus International.
Telus International provides multilingual customer service outsourcing and digital IT services to global clients.
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.
The company also cautioned 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.
Headquartered in Vancouver, British Columbia, Telus Corporation is the parent company of Telus Communications, Telus Mobility, Telus Health and Telus International.
Telus Corporation owns a 65 per cent interest in Telus International, while Baring Private Equity Asia owns the remaining 35 per cent.
Telus is down 0.19 per cent and is trading at C$26.52 per share as of 2:28pm.