WNS Announces Pricing of Public Offering of ADSs
Published on Thursday, 09 February 2012 19:20 Written by TradersHuddle StaffNEW YORK & MUMBAI, India-( Business Wire )-
WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global offshore business process outsourcing services, today announced the pricing of its previously announced underwritten public offering of ADSs at a price to the public of $9.25 per ADS. The offering was upsized to 10,650,000 ADSs from the original offering size of 10,500,000 ADSs. Of the total offering of 10,650,000 ADSs, the number of ADSs offered by WNS was increased to 5,400,000 ADSs and the number of ADSs offered by Warburg Pincus remains at 5,250,000 ADSs. Warburg Pincus has also granted the underwriters of the offering a 30 day option to purchase up to an additional 1,597,500 ADSs, representing 15% of the revised total offering size, to cover over-allotments, if any. The offering is expected to close on or about February 15, subject to customary closing conditions.
WNS expects net proceeds from its sale of ADSs in the offering to be approximately $45.5 million, after deducting underwriting discounts and commissions and estimated offering expenses which are payable by WNS. WNS intends to use the net proceeds from the offering for general corporate purposes, which may include capital expenditures, acquisitions, refinancing of indebtedness and working capital. WNS will not receive any proceeds from the sale of ADSs by Warburg Pincus in the offering.
BofA Merrill Lynch and Deutsche Bank Securities Inc. are joint book-running managers and Baird, William Blair & Company and Janney Montgomery Scott are co-managers. The ordinary shares represented by the ADSs will be sold pursuant to a shelf registration statement on Form F-3 previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”). WNS will also file with the SEC a prospectus supplement with respect to the offering.
WNS (Holdings) Limited (NYSE: WNS), is a leading global offshore business process outsourcing company. WNS offers business value by combining operational excellence with deep domain expertise in key industry verticals including Insurance; Travel and Leisure; Manufacturing, Retail, Consumer Products and Telecom; Consulting and Professional Services; Healthcare; Banking and Financial Services; Utilities, and Shipping and Logistics industries. WNS delivers an entire spectrum of business process outsourcing services such as customer care, finance and accounting, legal services, procurement, research and analytics, technology services and industry specific back office and front office processes. WNS has over 22,500 professionals across 25 delivery centers worldwide including India, the Philippines, the United Kingdom, Sri Lanka, Romania, Costa Rica and the United States, as well as a subcontractor’s delivery center in South Africa.
Safe Harbor Statement under the provisions of the United States Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements relating to WNS’s expectations regarding the completion of the public offering and the intended use of proceeds. We caution you that reliance on any forward-looking statement involves risks and uncertainties that might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. There can be no assurance that WNS will be able to complete the public offering on the anticipated terms, or at all. These and other factors are more fully discussed in the prospectus supplement for the offering filed with the SEC which is available at http://www.sec.gov. Except as required by law, we do not undertake to release revisions of any of these forward-looking statements to reflect future events or circumstances.
References to "ADS" refer to American Depositary Shares, each representing one ordinary share of WNS; and references to "$" refer to the United States dollars, the legal currency of the United States.
Related Partner Headlines
- WNS Holdings Stock Upgraded (WNS) - TheStreet.com
- WNS Announces Departure of CFO - Benzinga
- UPDATE: WNS Posts Increase In Q1 Profit - Benzinga
- UPDATE: Oppenheimer Upgrades WNS (Holdings) Limited (ADR) to Outperform on Attractive Valuation and Improving Growth Profile - Benzinga
- WNS Acquires Fusion Outsourcing Services in South Africa - Benzinga
- WNS Enters Into Strategic Partnership with GT Nexus - Benzinga
- WNS Holdings Stock Downgraded (WNS) - TheStreet.com
- WNS Announces Pricing of Public Offering of 10.65M ADSs at $9.25 - Benzinga
- WNS Holdings Stock Upgraded (WNS) - TheStreet.com
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,335.28 Trade time:4:20PM EDT Value change:▼19.12 (-0.12%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,666.29 Trade time:4:20PM EDT Value change:▼1.18 (-0.07%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,496.43 Trade time:4:29PM EDT Value change:▼2.54 (-0.07%)
In The Wires
Suburban Propane Partners, L.P. Announces Closing of Public Offering of Common Units and Full Exercise of Underwriters' Option
Ohio Valley Bank Joins Federal Reserve System
Shareholder Derivative Lawsuit on Behalf of VeriFone Systems, Inc. Subject to Dismissal Unless Other Shareholder(s) are Substituted as Plaintiff
SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Directors of Asta Funding, Inc.
Lincoln Financial Group Names Paul Narayanan Vice President And Managing Director Of Portfolio Management Analytics
Gentiva® Health Services To Present at Upcoming Investor Conferences
Magnum Hunter Resources Corporation Sued by Investor
MGM Resorts International To Present At The Barclays High Yield Bond & Syndicated Loan Conference