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Telus International Closes IPO

· 02/05/2021 06:43

11:27 AM EST, 02/05/2021 (MT Newswires) -- Telus Corporation (T.TO) and its subsidiary, Telus International (TIXT.TO) have closed the upsized Telus International initial public offering (IPO) of 42.55 million subordinate voting shares at US$25 per share.

The offering generated aggregate gross proceeds of US$1.06 billion (C$1.36 billion), including the exercise of the over-allotment option in full. The net proceeds to Telus International are expected to be approximately US$490 million (C$627 million), and are expected to be used to repay outstanding borrowings under its revolving credit facilities. Telus International will not receive any proceeds from the subordinate voting shares sold by the selling shareholders.

The subordinate voting shares began trading on the New York Stock Exchange and the TSX on February 3.

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