TELUS International (TIXT) IPO Opens Higher

February 3, 2021 11:52 AM EST

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Today's IPO for TELUS International (NYSE: TIXT) opened for trading at $33.10 after pricing 37.0 million subordinate voting shares at a price of US$25.00 per share. Shares have since trimmed gains to $31.51.

TELUS International is being spun-off from TELUS CorporationTELUS (NYSE: TU).

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint lead book-running managers for the IPO. Barclays Capital Inc., BofA Securities, Inc. and CIBC World Markets Inc. are also acting as active book-running managers. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC Dominion Securities Inc., Robert W. Baird & Co. Incorporated, BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Wells Fargo Securities, and William Blair & Company, L.L.C. are also acting as book-running managers. Additionally, MUFG Securities Americas Inc., National Bank Financial Inc., Loop Capital Markets LLC and R. Seelaus & Co., LLC are acting as co-managers.

TELUS 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, data annotation and intelligent automation, 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.

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