Business Daily from THE HINDU group of publications
Tuesday, Jul 25, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 25, 2006 |
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Markets
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Stocks Info-Tech - Outsourcing Our Bureau
New Delhi , July 24 The Mumbai-based WNS (Holdings) Ltd, a provider of offshore BPO services, is planning to raise over $200 million through an IPO in the US. The shares will be traded on the New York Stock Exchange from Wednesday. On July 3, the company had announced that it had filed a registration statement with the Securities and Exchange Commission for the proposed offering of American Depository Shares (ADSs), which will trade under the symbol, WNS. "The proposed offering will include a secondary offering of ADSs by selling shareholders named in the registration statement. Each ADS represents the right to receive one ordinary share of WNS (Holdings) Ltd. The ADSs will be evidenced by American Depositary Receipts (ADRs)," the company had said in its release. Deutsche Bank Trust Company Americas is the depositary for the ADSs. Morgan Stanley & Co International Ltd, Deutsche Bank Securities Inc and Merrill Lynch, Pierce and Fenner & Smith Incorporated are the joint book runners of the offering. Citigroup Global Markets Inc and UBS Securities LLC are serving as co-managers. WNS (Holdings) Ltd is the parent company of WNS Global Services Ltd. The company provides data, voice and analytical services. It began as an in-house unit of British Airways Plc in 1996 and is seeking a Nasdaq listing under the symbol SOFS. According to the regulatory filing, private equity firm Warburg Pincus holds 64.7 per cent stake in WNS and British Airways 14.6 per cent.
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