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News: ePerformax gets SEC approval for P3.345-B initial public offer - 12 Jan 2008
Filipino-owned call center firm ePerformax International Inc. has secured the Securities and Exchange Commission’s nod for its planned initial public offering (IPO) estimated to raise as much as P3.345 billion.              

ePerformax, a joint venture between ePerformax US and the Delgado family’s Transnational Diversified Group (TDG), is a pioneering provider of inbound customer care, inbound customer retention and renewal, inbound sales and cross-selling, website-technical support and outbound data verification supporting its base of clients consisting of large US-based Fortune 500 corporations.
Based on its registration statement filed with the SEC, ePerformax will issue 223 million shares to the public at a maximum price of P15 each with an over-allotment option of 22 million shares.

Including the over-allotment option, the company is expected to raise up to P3.675 billion.
Out of the expected proceeds, ePerformax, the first business process outsourcing (BPO) firm to go public, will receive a maximum of P2.325 billion while the rest will go to selling shareholders Performance Consulting Group Inc., Global e-Business Solutions Inc. and Joint Research & Development Corp.
Net proceeds of the IPO would be used to fund the company’s expansion in Cebu and Manila, working capital requirements, acquisitions and business development and for the repayment of debt.

BDO Capital & Investment Corp. will serve as the issue manager and lead underwriter for the offering.

 “This is an opportune time to move forward with the IPO because the economic challenges in the US are driving even more demand for services here. Companies that believe they can mirror the quality of the client’s current internal centers will be poised to capture significant growth. We can move to save them money and protect their brand. If we wait, we delay the growth opportunity that we want to take advantage of now,“ said ePerformax president and chief executive officer Teresa Hartsaw.
As of Sept. 30, 2007, ePerformax had 2,196 agents at its two contact center facilities located in Manila and Cebu.

ePerformax posted a net income of P174.54 million in the nine months ending September 2007, up 34.45 percent from the previous level of P129.81 million on the back of increased seats.
To ensure continued continued growth, ePerformax is exploring acquisition opportunities in several fields that would complement its vision for the growth of its knowledge process outsourcing business.

Among the areas of interest include training of call center agents and management personnel, particularly remedial training for near-hire applicants in order to assure an adequate supply of agents at reasonable costs for e-Performax’s business.

Source: PhilStar.com (1.12.08)
By Zinnia B. Dela Peña
Saturday, January 12, 2008

Posted By: PhilCTTIS Data Center 
 
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