Singapore-Based TDCX Rises in U.S. Stock-Market Debut
(Bloomberg) -- Singapore-based TDCX Inc., a provider of digital customer experience solutions, saw its shares rise 5.5% in its U.S. initial public offering Friday.
The company priced almost 19.4 million American depositary shares Thursday at the top end of a marketed range for $18 each, according to data compiled by Bloomberg. It had marketed 18.8 million in shares for $16 to $18 each.
It was trading at $18.99 per share at 3:07 p.m. in New York, giving the company a market capitalization of about $2.7 billion.
TDCX is only the second Singaporean firm to raise funds through an IPO in the U.S. this year, excluding special purpose acquisition companies. It follows software solutions company Karooooo Ltd., which raised about $34 million in April including the over-allotment option.
TDCX operates in Asia, Europe and Latin America. It posted revenue of $187 million for the six months ended in June, about 20% higher than the same period a year before, according to a filing. Facebook Inc. and Airbnb Inc. are listed among its clients.
The offering was led by Goldman Sachs Group Inc. and Credit Suisse Group AG.
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