TSX celebrates largest technology IPO in Canadian history with virtual market open
TORONTO, Feb. 3, 2021 /CNW/ - Toronto Stock Exchange (TSX) announced today that TELUS International (Cda) Inc. (TELUS International), a subsidiary of Vancouver-based TELUS Corporation (TSX: T), began trading earlier today under the symbolTSX:TIXT.
TELUS International's initial public offering (IPO) and secondary offering are expected to raise US$925 million, making it the largest technology IPO in TSX history by total proceeds raised. The landmark IPO also represents one of the largest in TSX history by total proceeds raised.
"TELUS International's IPO marks an historic day for our team members around the world. Over the past decade-and-a-half, thanks to the passion, talent and innovation of our global team, TELUS International has evolved as an organization, demonstrating world leadership in customer service excellence, digital transformation, and heartfelt caring in the communities where our team members live, work and serve," said Darren Entwistle, President and CEO of TELUS. "TELUS International has been a pillar within TELUS' dynamic growth strategy, and as TI begins this next chapter in its journey, the entire TELUS team is thrilled to see our colleagues positioned to realize their goals for future growth, including driving positive outcomes for our customers, shareholders and our communities. We are so proud to support and help drive, the continued exciting evolution of TELUS International."
"We are extremely proud to welcome TELUS International, a global leader in next-gen digital services to Toronto Stock Exchange," said Loui Anastasopoulos, President, Capital Formation, Toronto Stock Exchange and TSX Venture Exchange. "Momentum continues to build in the TSX technology sector as companies increasingly turn to our markets to gain access to growth capital. TSX is committed to supporting the long-term success of companies like TELUS International, in our work to build on Canada's reputation as an international centre of innovation among entrepreneurs and investors. On behalf of all of us at TSX, congratulations to the entire TELUS International team on this achievement as it takes its place in Canadian business history joining the likes of CN, Manulife and GFL."
TELUS International is a leading digital customer experience innovator that designs, builds and delivers next-generation solutions for global and disruptive brands. Their services support the full lifecycle of their clients' digital transformation journeys and enable clients to more quickly embrace next-generation digital technologies to deliver better business outcomes.
"Today is a truly remarkable milestone for TELUS International as our company makes its debut on the Toronto Stock Exchange. We are defining a new business category at the intersection of digital information technology and digital customer experience, and are more excited than ever for what lies ahead for our team members, our valued clients and the communities where we operate as we continue building upon the strong legacy, values and foundation established by our parent company, TELUS," said Jeff Puritt, President and Chief Executive Officer of TELUS International. "The extraordinary circumstances over the last year have clearly demonstrated the power of digital technology as a critical enabler of business success. As an innovative, agile and trusted partner, I believe TELUS International is uniquely positioned to help the brands we serve to differentiate themselves in the marketplace, driving both customer loyalty and growth. I am very grateful for the ongoing commitment of our team and the continued support of all our valued stakeholders as we mark this significant day together."
Mr. Entwistle, Mr. Puritt and the TELUS International team celebrated the listing earlier this morning by virtually opening the market.
As at December 31, 2020, there were 220 technology companies listed on both TSX and TSX Venture Exchange with a combined market capitalization of $331 billion.
About TMX Group (TSX:X)
TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, and Trayport which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London and Singapore. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.
This news release is not, and should not be construed as an invitation to purchase the referenced securities or other securities listed on TSX. TMX Group and its affiliates do not endorse or recommend any of the referenced securities nor should any statement in this news release be construed as advice regarding a broad investment strategy. Listing on TSX does not guarantee the future performance of a security or an issuer. Please seek professional advice to evaluate specific securities.
SOURCE Toronto Stock Exchange
Catherine Kee, Senior Manager, Corporate Communications & Media Relations, TMX Group, 416-814-8834, [email protected]
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