EPAM Systems, an offshore software developer with major R&D centers in Russia, Belarus, and Ukraine, has rescheduled its IPO to Q1 2012, Reuters reported yesterday.
In June 2011, the company filed with US regulators to raise up to $100 million in an IPO of its common stock. At the time of filing, EPAM announced its intention to use the proceeds from its IPO for future acquisitions and general corporate purposes, although it didn’t disclose the price of each share or the number of shares it intended to sell.
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