Domestic BPO major WNS is all set to list in the US after an initial public offering that has been priced well above the forecasts. WNS, previously a part of the UK-based airline giant British Airways, will start trading on the New York Stock Exchange today following a successful initial public offering (IPO) of its American Depository Shares in which the company raised over Rs 1,000 crore ($224 million). WNS (Holdings), the parent company of leading offshore business process outsourcing provider WNS Global Services, today said that it has priced the IPO of more than 11.2 million ADSs at $20 per ADS. The IPO has been priced at the upper end of the price band of $18-20 per ADS, as proposed by the company previously, and has beaten the market expectations. The company would attract an initial market capitalisation of nearly $800 million (Rs 3,700 crore) based on the IPO price of $20 per ADS. The company's ADSs would begin trading on the NYSE under the symbol WNS. The company raised the IPO size from 10.4 million shares to 11.2 million shares due to an increase in the shares offered by the selling shareholders. Of the total offering of 11,202,708 ADSs (with each representing the right to receive one ordinary share of WNS (Holdings) sold in the offering, 4,473,684 ADSs were sold by the company while 6,729,024 ADSs were sold by other shareholders including British Airways. |