Deal Details

TELUS International Completes $1.1 Billion IPO

Technology & Services

TELUS International IPO

Summary

TELUS International Inc. (“TELUS International” or the “Company”) (NYSE:TIXT; TSX:TIXT), a subsidiary of TELUS Corporation (NYSE:TU; TSX:T), recently completed an initial public offering (IPO) of 42,550,000 subordinate voting shares at a price of $25.00 per share. The offering generated aggregate gross proceeds to TELUS International, TELUS Corporation and Baring Private Equity Asia (Baring) of USD $1.06 billion (CAD $1.36 billion), inclusive of the underwriters’ over-allotment option to purchase up to 5,550,000 subordinate voting shares. Proceeds to TELUS International 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.

Baird served as a bookrunner on this offering.

About

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.