Kanbay International, Inc. Announces Exercise of Underwriters' Over-Allotment Option
ROSEMONT, Ill., Aug. 2 /PRNewswire-FirstCall/ -- Kanbay International, Inc. (Nasdaq: KBAY) announced today that the underwriters of its recent initial public offering of 7,150,000 shares of common stock at $13.00 per share have exercised in full their over-allotment option to purchase an additional 1,072,500 shares of common stock from certain selling stockholders.
UBS Securities LLC acted as the sole book-running manager of the offering. Robert W. Baird & Co. and Janney Montgomery Scott LLC acted as co-managers.
This press release does not constitute an offer to sell or a solicitation to buy any of the aforementioned securities. The offering of the securities is being made only by means of a prospectus. A copy of the prospectus may be obtained from UBS Securities LLC, Prospectus Department, 299 Park Avenue, New York, NY 10171.
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.
