PeopleSupport Prices IPO Offering

Los Angeles-based offshore outsourcing firm PeopleSupport announced yesterday that it has priced its IPO at $7.00 per share. The company is set to begin trading on the NASDAQ as PSPT sometime today. PeopleSupport provides outsourcing of business processes, customer service, and call centers in the Phillipines. The price of its IPO is down from an original estimated range of $10 to $12 per share. The offering is being underwritten by SG Cowen & Co. Piper Jaffray & Co., A.G. Edwards and JMP Securities.