Warburg Pincus to sell stake in WNS for $192 mn
Press Trust of India : New Delhi, Thu Feb 07 2013, 00:50 hrs
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Warburg Pincus today said it plans to sell its entire holding of over 14.5 million American Depositary Shares (ADS) in BPO firm WNS, through which the private equity firm expects to raise about $192 million.
"Warburg Pincus is proposing to offer and sell 12,625,343 ADSs (in WNS) in an underwritten public offering, subject to market and other conditions," WNS said in a statement.
Warburg Pincus also intends to grant the underwriters of the proposed offering a 30-day option to purchase up to an additional 1,893,801 ADSs to cover over-allotments, if any, it added.
Calculated on the basis of the closing price of WNS on February 5 at $13.20 at the NYSE, the offering could mop up funds to the tune of $191.65 million.
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