Friday, August 3, 2007

UPDATE 1-Virtusa says IPO priced at $14/shr

(Reuters) - The company said it expects net proceeds of about $53
million, of which it plans to use about $30 million to fund the
construction and build-out of a facility on its planned campus
in Hyderabad, India.




The remainder of these proceeds will be used to finance the
expansion of its global delivery centers or capacity in
Chennai, India and Colombo, Sri Lanka, the hiring of additional
personnel, sales and marketing activities, capital expenditures
and the costs of operating as a public company.


Read more at Reuters.com Government Filings News

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