Kanbay International Announces Launch of Its Initial Public Offering
ROSEMONT, Ill., July 6 /PRNewswire/ -- Kanbay International, Inc. announced today that it is launching an initial public offering of its common stock to sell 7,150,000 shares at an estimated offering price range of $13 to $15 per share. The Company is offering 5,362,500 shares of its common stock and a selling shareholder is offering 1,787,500 shares of the Company's common stock.
UBS Securities LLC is acting as the sole book-running manager for the offering. Robert W. Baird&Co. and Janney Montgomery Scott LLC are acting as co-managers of the offering. A preliminary prospectus relating to this offering may be obtained from UBS Securities LLC, Prospectus Department, 299 Park Avenue, New York, NY 10171.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
About Kanbay
Founded in 1989, Kanbay International, Inc. is a global IT services firm focused on the financial services industry. Kanbay provides its services primarily to commercial and retail lending institutions, insurance companies, card issuers, and securities and investment management firms. The company uses a global delivery model to provide application development, maintenance and support, software package selection and integration, business process and technology advice, network and system security, and specialized services. Kanbay is headquartered in suburban Chicago and has offices in the U.S., Canada, U.K., Australia, Hong Kong, Japan, Singapore and India.
