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TELUS Corporation (TSX: T; NYSE: TU) announced that its subsidiary, TELUS International (Cda) Inc. (TELUS International), has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) and filed a preliminary base PREP prospectus with the securities regulatory authorities in each of the provinces and territories of Canada for a proposed initial public offering (IPO) of subordinate voting shares of TELUS International.

The proposed IPO is expected to consist of subordinate voting shares offered by TELUS International from treasury and a secondary offering of subordinate voting shares held by TELUS Corporation (TELUS) and Baring Private Equity Asia, its selling shareholders. The number of subordinate voting shares to be offered by TELUS International and the selling shareholders and the price range for the IPO have not yet been determined. In connection with the IPO, TELUS International has applied to list its subordinate voting shares on the New York Stock Exchange and on the Toronto Stock Exchange.

The IPO is subject to market conditions, and there can be no assurance as to whether or when the IPO may be completed, or as to the actual size or terms of the IPO.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC will act as joint lead book-running managers for the IPO. Barclays, BofA Securities and CIBC Capital Markets will act as book-running managers.