TDCX Shares Rise 14% After Going-Private Deal for $7.20 a Share

Dow Jones03-01

By Chris Wack

TDCX shares were up 14% to $7.03 Friday after the company entered a going-private deal with an implied equity value of $1.04 billion.

The stock hit its 52-week low of $4.22 on Dec. 18 and is down about 44% in the past 12 months.

Laurent Junique, TDCX's founder and executive chairman, and his affiliates have offered to buy the Singapore-based company at $7.20 a share. That is up from Junique's nonbinding proposal of $6.60 a share made in January.

The members of the buyer group beneficially own about 86% of all the issued and outstanding shares of TDCX, representing 98% of the voting power of the company.

The merger is expected to close in the second quarter. If completed, TDCX's American depositary shares will no longer be listed on the New York Stock Exchange.

TDCX provides digital customer experience solutions.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

March 01, 2024 09:52 ET (14:52 GMT)

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