TDCX raised $400M in NYSE
Singapore-based Business Process Outsourcing (BPO) provider TDCX raised around US$400 million in its Initial Public Offering (IPO) on the New York Stock Exchange (NYSE) — the biggest by a Southeast Asian company— last October 1.
Currently, its share price increased by more than 30% with the company now valued at about US$3.7 billion.
In an interview with Nikkei Asia, TDCX CEO Laurent Junique said that he is expecting that the firm will attract more corporate clients in Asia as local tech companies scale up their businesses due to digitalization.
The service provider’s strong IPO and share price rise reflect its growing investor interest in business-to-business tech companies. TDCX recorded a US$33 million net profit for the first half of 2021, up 16% from last year.
With the world starting to come out of the pandemic, Junique said that the IPO timing of the firm “is probably quite good.”
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