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HTP resident company EPAM Systems, Inc. launched its initial public offering on NYSE (New York Stock Exchange) on the 7th of February, 2012.
EPAM Systems became the first IT services provider in the history of the CEE region, which floated its shares on NASDAQ (the National Assocation of Securities Dealers Automated Quotation).
Established in 1993, EPAM Systems, Inc. is a leading global IT services provider with delivery centers throughout Central and Eastern Europe. The headquarters of the company are situated in the United States, Belarus, Hungary, Russia, Ukraine, UK, Germany, Kazakhstan, Sweden, Switzerland, and Poland.
During the bidding process 6 mln. shares of common stock were offered at a price to the public of $12.00 per share. The Company intends to use the net proceeds that it receives from this offering for general corporate purposes, such as for working capital, for acquiring facilities, and for potential strategic acquisitions of, or investments in, other businesses or technologies that, it believes, will complement its current business and expansion strategies. EPAM Systems will not receive any of the proceeds from the sale of common stock by the selling stockholders.
Citigroup, UBS Investment Bank, Barclays Capital and RenCap will act as joint book-running managers for the offering, with Stifel Nicolaus Weisel and Cowen and Company acting as co-managers.