New York November 10 2022: Business process outsourcing provider Ibex Holdings Ltd. trading halted at Nasdaq after the news that it is attracting preliminary interest from suitors including buyout firm CVC Capital Partners, people with knowledge of the matter said.
CVC has been speaking to banks about financing for a potential bid, according to the people, who asked not to be identified because the information is private. Shares of Ibex have risen 55% in New York trading this year, giving the company a market value of $366 million.
IBEX gain USD 2.48 or 12.38 percent in todays trading to reach USD 22.24 at NASDAQ.
TRG Pakistan Limited is currently the company's largest shareholder with 29% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 11% and 9.3%, of the shares outstanding, respectively. Additionally, the company's CEO Robert Dechant directly holds 1.2% of the total shares outstanding.
Deliberations are ongoing, and there’s no certainty they will result in a formal offer, the people said.
Representatives for CVC and Ibex declined to comment.