Luxoft prices IPO at $17 midpoint, raising $70 million
Luxoft Holding, a spin-off of Russia-based IBS Group's offshore IT services business, raised $70 million by offering 4.1 million shares (50% insider) at $17, the midpoint of the range of $16 to $18. Luxoft plans to list on the NYSE under the symbol LXFT. Luxoft Holding initially filed confidentially on 3/15/2013. UBS Investment Bank, Credit Suisse and J.P. Morgan acted as lead managers on the deal.