On February 5, 2021, TELUS International completed its US$1.06 billion initial public offering of subordinate voting shares in Canada and the United States, representing the largest technology IPO in Canadian history and the fifth largest IPO in TSX history by total proceeds raised. The upsized US$1.06 billion offering generated net proceeds of US$490 million to TELUS International, which were used to repay outstanding borrowings under TELUS International’s revolving credit facilities. The balance of the gross proceeds of the offering were received by TELUS Corporation and Baring Private Equity Asia as selling shareholders.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC acted as joint lead book-running managers for the IPO. Barclays Capital Inc., BofA Securities, Inc. and CIBC World Markets Inc. also acted 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. also acted as book-running managers. Additionally, MUFG Securities Americas Inc., National Bank Financial Inc., Loop Capital Markets LLC and R. Seelaus & Co., LLC acted 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.
Telus Corp. is a Canadian telecommunications company specialized in providing telecommunications products and services including access to internet, voice, entertainment, healthcare and video.
Osler, Hoskin & Harcourt LLP advised TELUS International and TELUS Corporation with a team consisting of Desmond Lee, James Brown, Amelia Miao, Trevor Scott (Corporate), Andrew MacDougall (Corporate Governance and Executive Compensation), Patrick Marley and Masoud Tasharofi (Tax).