TRG Pakistan Postpones IPO of Subsidiary IBEX Holdings

IBEX Holdings, which provides outsourced customer support and marketing services, postponed its IPO on Wednesday due to the market conditions. It had filed to raise $60 million by offering 4 million shares at a price range of $14 to $16. TRG Pakistan Ltd had revealed back in February that its indirect subsidiary, IBEX Holdings Limited’s offering could take place on Nasdaq during the first half of 2018. It was to be held on Wednesday which has now been postponed. There is no further information at this time. ALSO READ TRG Pakistan’s Subsidiary to File for an IPO in the US The Hamilton, Bermuda-based company was founded in 2004 and booked $353 million in sales for the 12 months that ended December 31, 2017. It had planned to list on the Nasdaq under the symbol IBEX. Baird, Piper Jaffray, William Blair and SunTrust Robinson Humphrey were set to be the joint bookrunners on the deal. TRG Pakistan Limited provides business process outsourcing solutions and services in Pakistan. The company manages and maintains telephone answering services, call centers, and information technology related services in Pakistan. At the time of filing this report, TRG Pakistan’s shares were trading at Rs 38.68, down by Rs 1.52 or -3.81% with a turnover of 10.14 million shares. Via: Renaissance Capital