IPO News Archive
EPAM Systems prices downsized IPO at $12, below the range
EPAM Systems, an offshore IT services provider with delivery centers in Eastern Europe, raised $72 million by offering 6 million shares (67% from selling shareholders) at $12.00, below the range of $16 to $18. The company had originally planned to sell 7.4 million shares with 79% from selling shareholders. EPAM Systems plans to list on the NYSE under the symbol EPAM. Citi, UBS Investment Bank, and Barclays Capital acted as lead managers on the deal.