Telus International (Cda) Inc. finally made its public trading debut on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol “TIXT,” with shares surging more than 30 per cent on its first morning of trading in Toronto.
The Telus Corp. spinoff priced the IPO at US$25 per share overnight following its roadshow with investors. The stock’s proceeds will make it the largest initial public offering of a technology company in Toronto Stock Exchange history.
Telus International’s CEO Jeff Puritt noted that this move is not a move away from its partnerships with Telus Corporation.
“One of the nice things about a dual-share structure, it doesn’t unduly restrict our M&A ambitions, because there’s little-to-no dilution as a consequence of doing so… We’ve enjoyed a highly symbiotic relationship with Telus since our inception and we anticipate that it will continue throughout the future,” said Puritt