Ibex Files for Listing its Shares on Nasdaq

Outsourced customer services provider Ibex Global’s parent firm Ibex Holdings has filed an application with the US market regulator SEC to raise US$100 million through an initial public offering (IPO).

This is the BPO’s second attempt to go public. In March 2018, it filed to raise US$60 million but withdrew the offering later that year.

If the regulator gives the go-ahead, the call center firm will be listed on Nasdaq under the symbol IBEX.

The principal shareholder of the company is The Resource Group International Limited, which is controlled by TRG Pakistan Limited (TRGP), a publicly-traded company in Pakistan.

The Washington DC-based Ibex says it has not finalized the price of the shares it is going to float on the market.

Founded in 2004, Ibex provides services for companies to effectively engage with their customers. It generated US$392 million in revenue for the fiscal year ending March 31, 2020.

Ibex runs call centers for some of the world’s largest telecoms, consumer electronics, and financial services companies, and employs over 19,000 staff in 26 locations across the world.

It provides call center services in over 20 languages, including Danish, Swedish, Polish, Mandarin, Cantonese, and Hindi.

Until 2015, Ibex had no Nearshore presence, but in 2016 and 2017, it built a strong base in the region with the launch of large delivery centers in Jamaica and Nicaragua.

This rapid expansion helped it win the prestigious ‘Nearshore Company of the Year’ award by Nearshore Americas in 2019.