IPO: EPAM Systems (EPAM)

EPAM Systems (EPAM), an offshore IT services provider with delivery centers in Eastern Europe, plans to raise $126 million by offering 7,400,000 shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, EPAM Systems will command a market value of $777.86 million. EPAM Systems, which was founded in 1993, booked $310 million in sales over the last 12 months. The Newtown, PA-based company plans to list on the NYSE under the symbol EPAM. Citi, UBS Investment Bank, and Barclays Capital are the lead underwriters on the deal.