TDCX announces pricing of Initial Public Offering
By Edlyn Cardoza
TDCX Inc., a high-growth digital customer experience solutions provider for technology and blue-chip companies, recently announced the pricing of its initial public offering of 19,358,957 American Depositary Shares. Each ADS represents one Class A ordinary share, at a price to the public of US$18 per ADS.
TDCX granted the underwriters a 30-day option to purchase up to an additional 2,903,843 ADS at the initial public offering price, less underwriting discounts, and commissions. The total gross proceeds of the offering are expected to be approximately US$401 million if the underwriters choose to exercise their over-allotment option in full.
The shares began trading on the New York Stock Exchange on 1 October 2021 under the symbol “TDCX”. The offering is expected to close on 5 October 2021, subject to the satisfaction of customary closing conditions.
TDCX intends to use the net proceeds from this offering to repay amounts outstanding under a term loan credit facility affiliated with Credit Suisse and fund general corporate purposes. Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC are acting as the joint bookrunners for the offering.
Founded in 1995, TDCX has grown into a boutique outsourced business service provider in customer experience solutions to high-growth clientele, from a wide range of diverse and thriving industries. TDCX is headquartered in Singapore and has a strong presence in Malaysia, Thailand, Philippines, China, Japan, India, Romania, Spain and Colombia.
IBSi Daily News Analysis
May 30, 2023
American Depositary Shares
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