Virtusa listed in NASDAQ

By SiliconIndia   |   Thursday, 16 August 2007, 07:00 Hrs
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Hyderabad : Virtusa Corporation, headquartered in Massachusetts, USA, a global information technology (IT) services company providing IT consulting, technology and outsourcing services, has commenced trading its common stock on the NASDAQ Global Market from Friday, August 3, 2007 under the symbol "VRTU." The pricing of its initial public offering of 4,400,000 shares of its common stock is at a price to the public of $14.00 per share. All of these shares are being sold by Virtusa. The underwriters also have a 30-day option to purchase up to an additional 462,795 shares of common stock from selling stockholders and an additional 197,205 shares of common stock from Virtusa to cover over-allotments, if any. Virtusa will not receive any proceeds from the sale of shares by the selling stockholders.

J.P. Morgan Securities Inc. is acting as sole book-running manager for the offering, with Bear, Stearns & Co. Inc. as the lead manager, and Cowen and Company, LLC and William Blair & Company, L.L.C. serving as co-managers.

A copy of the final prospectus relating to the offering may be obtained by contacting the Prospectus Department of J.P. Morgan Securities Inc. at National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245 (telephone: 718-242-8002).

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on August 2, 2007, and the public offering is being made by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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