IBEX Limited has become the first significant customer experience outsourcer to go public in over a decade, today announced the pricing of its initial public offering of 4,761,905 common shares at a price of $19.00 per share. The offering consists of 3,571,429 shares offered by ibex and 1,190,476 shares to be sold by the selling shareholder. The underwriters have been granted a 30-day option to purchase up to an additional 714,285 common shares from the selling shareholder at the initial public offering price, less underwriting discounts and commissions. The gross proceeds to ibex from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by ibex, are expected to be $67.9 million. ibex will not receive any proceeds from any sale of shares by the selling shareholder.
This morning, the shares began trading on the Nasdaq Global Market under the ticker symbol “IBEX,” and the offering is expected to close on August 11, 2020, subject to customary closing conditions.
“Congratulations to every ibex employee on this milestone of milestones. What this team has accomplished in my 5 years here as CEO is second to none. I’d like to thank our more than 22,000 remarkable employees for the amazing job they do each and every day. Ibex has established itself as the leader in BPO 2.0, where the Customer Experience is a competitive advantage for clients. I am thrilled to be leading the BPO 2.0 charge,” said ibex CEO Bob Dechant.
Citigroup and RBC Capital Markets are acting as joint book-running managers and as representatives of the underwriters. Baird, Truist Securities and Piper Sandler are acting as joint book-running managers for the offering.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission yesterday, August 6, 2020. Copies of the final prospectus may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, at 1-800-831-9146 or by email at [email protected]; or RBC Capital Markets, LLC, Attention: Equity Syndicate Department, 200 Vesey Street, 8th Floor, New York, NY 10281, at 1-877-822-4089 or by email at [email protected].
