Endava raises USD 127 million from IPO on New York Stock Exchange

Georgeta Gheorghe 31/07/2018 | 12:55

Endava opened for trading on July 27 on the New York Stock Exchange (NYSE) under the symbol DAVA, from its initial public offering. The IT services provider attracted USD 127 million following its initial public offering.

Created in London in 2000, Endava priced its IPO of IPO of 6.34M ADSs, each representing one Class A ordinary share at USD 20.00 per share, of which 3.2M ADSs offered by the company and 3.14M ADSs offered by existing shareholders of Endava.

“This IPO is a natural next step in the evolution of our company, and I want to first thank my colleagues, our clients and partners for their contributions to our ongoing story and success,” John Cotterell, CEO, Endava told businesswire.com. “Today marks the beginning of a new phase for our company and we will continue to build on our core purpose of creating an environment and culture that breeds success by caring for our customers as individuals and enabling our people to be the best that they can be.”

Endava employs more than 4,700 with nearshore delivery centers located in two EU countries (Romania and Bulgaria), three other Central European countries (Macedonia, Moldova and Serbia) and four countries in Latin America (Argentina, Colombia, Uruguay and Venezuela). More than half its employees, 2300, are located in Romania, in Cluj-Napoca, Bucharest, Iasi, Pitesti and Targu Mures. .In addition, Endava has close-to-client offices in four Western European countries – Denmark, Germany, the Netherlands and the United Kingdom, as well as the United States.

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