Canadian telecommunications company Telus International is aiming to raise as much as $833 million in its initial public offering (IPO), a move that would see the company’s valuation float to $7 billion.
A subsidiary of Telus Corp., Telus International is planning to list its shares on the New York Stock Exchange in addition to the Toronto Stock Exchange under the ticker symbol “TIXT”.
In what will be one of the largest flotations in recent years for a Canadian company, the telecommunications corporation is expected to offer 33.33 million shares in its IPO, with the price per share ranging from $23 to $25 each.
This IPO decision comes after Telus International announced how its revenue for the financial year ended December 31 was expected to be somewhere between $1.57 billion and $1.58 billion; a significant rise from its $1.02 billion revenue generated one year earlier.
Telus International was established in 2005 as a subsidiary of Telus Corp. This corporation specializes in supplying customer service outsourcing and digital IT services to an array of international clients, including the likes of Cisco Systems Inc, Google Cloud, and Salesforce.com Inc.
