IBS Group Subsidiary Celebrates First Day as a Publicly-traded Company on the New York Stock Exchange
RAMSEY, the Isle of Man, June 26, 2013 /PRNewswire/ --
Luxoft Holding, Inc, a subsidiary of IBS Group Holding Limited ("IBS Group") and a leading Central and Eastern European IT service provider with clients across the globe, opened for trading today on the New York Stock Exchange (NYSE) under the ticker symbol "LXFT" after an initial public offering of its common stock. J. Streicher & Co., LLC is the Designated Market Maker for Luxoft's stock.
President and CEO Dmitry Loschinin, joined by members of Luxoft's leadership team, celebrated the company's first day of trading by ringing the NYSE Opening Bell® and visiting the trading floor to observe the stock opening.
"We congratulate Luxoft Holdings as it makes its public debut on the NYSE," said Scott Cutler, Executive Vice President, Head of Global Listings, NYSE Euronext. "Luxoft is a provider of innovative business solutions to some of the world's largest brands across an array of sectors and a fitting addition to our expanding network of technology companies. We are thrilled to partner with Luxoft as it embarks on its journey as a publicly-traded company and look forward to a successful and lasting partnership with the company and its shareholders."
"Our successful IPO is the ultimate testament to the unique talent pool in Central and Eastern Europe, our employees that made the company into a success story. We are the second technology company with the resources in that region that is being supported by the investors globally, recognized and welcomed by U.S. tech investors and is welcomed by NYSE Euronext over the last 18 months. United States is one of the key markets for Luxoft. Many Fortune Global 500 companies work with us and we are very excited to have a chance for more visibility and transparency among the North American corporate and investment audience. We are looking forward to stepping into a new life as a U.S. listed public company on NYSE", said Dmitry A. Loschinin, CEO and a President of Luxoft Holdings, Inc.
For more information on NYSE Euronext's listings business and to learn about trends in the IPO market, please visit the NYSE Euronext IPO Center.
About IBS Group Holding Limited
IBS Group is a leading software development and IT services provider in Central and Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT Services, it offers a wide variety of information technology services, such as software development and IT services outsourcing, IT infrastructure and business applications implementation. IBS Group has business operations in Russia, Ukraine, Romania, Poland, Germany, Switzerland, the UK, the USA, Vietnam and Singapore. IBS Group employs more than 8,300 people worldwide. In the year ended March 31, 2012, the Group reported US GAAP consolidated revenues of USD816.3 million. IBS Group's Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.F)
Luxoft is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft's software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft's solutions are based on its proprietary products and platforms that directly impact its clients' business outcomes and efficiently deliver continuous innovation.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets - the New York Stock Exchange, NYSE Euronext, NYSE MKT, NYSE Alternext and NYSE Arca - represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index. For more information, please visit: http://www.nyx.com.
The information contained in this press release is not for publication, distribution or release, directly or indirectly, in any jurisdiction where such publication, disclosure or release would be unlawful. This press release does not constitute an offer for the sale of securities in the United States of America, Canada, Australia, Japan or any other jurisdiction in which an offer would be subject to legal restrictions.
For more information about IBS Group please visit http://www.ibsgr.com.
SOURCE IBS Group Holding Ltd