Topic: How To Invest

The Successful Investor Hotline – Friday, February 5, 2021

Article Excerpt

TELUS CORP., $27.00, Toronto symbol T, is a buy. Telus is Canada’s third-largest wireless carrier after Rogers Communications (No. 1) and Bell Mobility (No. 2). It also sells landline phone, Internet, TV and home security services in B.C., Alberta and eastern Quebec. The company has now completed its plan to sell shares of 65.1%-owned Telus International through an initial public offering. The new shares trade on the Toronto and New York exchanges under the “TIXT” symbol. This business operates call centres on behalf of corporate clients in North America, Central America, Europe and Asia. It also helps clients manage their computer systems and mobile apps. Telus International issued 42.55 million subordinate voting shares (one vote per share) at $25.00 U.S. a share. Of those 42.55 million shares, 21.55 million came from Telus and Baring Private Equity Asia, its partner in Telus International. Telus’s share of the gross proceeds amounted to roughly $446 million (Canadian). To put those figures in context, Telus earned $356 million, or…

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