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ETELECARE Global Solutions Inc., a leading provider of
business process outsourcing services, is listing at the
local bourse up to 82.99 million common shares by way of
introduction.
Based on
a preliminary prospectus eTelecare gave the Securities
and Exchange Commission (SEC) on July 6, the shares are
57.226 million common shares, which represent all
outstanding common shares of the company’s capital stock
to date; and 25.76 million common shares that may be
issued by way of stock options.
At
present, eTelecare has an authorized capital stock of
P130 million divided into 65 million common shares with
par value of P2 per share.
The
board of the stock exchange confirmed earlier that
eTelecare was qualified for listing by way of
introduction on the market’s First Board. Listing by way
of introduction does not involve a public offering of
securities. It is allowed under the revised listing
rules of the stock exchange, particularly in the case of
securities of such an amount and widely held that their
marketability when listed can be assumed.
eTelecare listed its American depository shares at the
NASDAQ Stock Exchange last May. It plans to expand its
business, using the $79-million net IPO proceeds it
generated from this float.
This
month, eTelecare will open its sixth delivery center in
the country, consisting of 2,500 seats. Located at the
Annex@Shaw in Mandaluyong City, the center would employ
more than 3,000 when fully deployed.
The
company’s commitment to the Philippines began in 2000,
when it established its first contact center in
Quezon City
and became one of the first Philippine-based companies
to provide voice-based outsourced services to the US
market.
In 2004,
eTelecare became one of the first Philippine-based
companies to offer multishore business model when it
bought Arizona-based Phase 2 Solutions, a leading US BPO
firm.
The
company has five existing delivery centers in the
country and seven abroad.
It
currently serves a broad spectrum of industries,
including consumer electronics, wireless communications,
telecommunications providers, financial services, travel
and hospitality, media and health care.
In 2006,
eTelecare posted service revenues amounting to $195
million versus $152 million a year earlier. |
