IPOs

Customer support services provider IBEX sets terms for $100 million IPO

IBEX, which provides outsourced customer support and marketing services, announced terms for its IPO on Wednesday.

The Hamilton, Bermuda-based company plans to raise $100 million by offering 4.8 million shares (25% insider) at a price range of $20 to $22. At the midpoint of the proposed range, IBEX would command a fully diluted market value of $397 million. 

IBEX is a leading global "customer experience" company that provides services to help companies more effectively engage with their customers. Its integrated Customer Lifecycle Experience (CLX) platform provides solutions that span the entire customer lifecycle and includes broad-based integrated offerings as well as customized solutions focused on specific client needs. Its top ten clients use an average of more than five services across its CLX platform.

IBEX was founded in 2004 and booked $392 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol IBEX. Citi, RBC Capital Markets, Baird, SunTrust Robinson Humphrey and Piper Sandler are the joint bookrunners on the deal. It is expected to price during the week of August 3, 2020.

The article Customer support services provider IBEX sets terms for $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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