Göppingen The shares of the Swabian software manufacturer Teamviewer come to 23.50 to 27.50 euros to the Frankfurt Stock Exchange. The first trading day of the shares is expected to September 25, 2019, the company said.
The offer includes a total of up to 84 million shares from the owner Permira. The financial investor wants to make it five years after his entry checkout.
The total issue volume is between 1.41 and 2.31 billion euros – depending on the number of shares ultimately placed and the issue price. The price range would correspond to a market capitalization of the company of 4.7 to 5.5 billion euros. Depending on the final placement volume, the free float would be between 30 and 42 percent.
The offer period is scheduled to start on 12th September and will end after the current plans on 24th September. It would be the largest IPO of a technology company since 2000, when the dot-com bubble burst.
With the Teamviewer software, computers can be connected, for example for remote maintenance of computers, for remote control of machines or for online conferences.
In the current year, the company expects Göppingen with its 800 employees billed revenues of 310 to 320 million euros, which would be a good third more than 2018. Medium term, this growth pace should continue, said TeamViewer in the prospectus.
The company, which was founded in 2005, among other things, benefits from the fact that it already completed its conversion to the subscription model last year. Currently, Teamviewer, whose retail software is free for the base version, has 360,000 subscribers. The company's software is currently actively deployed on 340 million devices.
The IPO of the software manufacturer would be only the third IPO in Frankfurt this year. The Volkswagen truck subsidiary Traton had barely recovered well over 1.5 billion euros before the summer break, far less than hoped.
More: The software company from Baden-Württemberg is growing considerably – and is still highly profitable.
. (tagsToTranslate) Teamviewer (t) IPO (t) New issue (t) Going public (t) Share (t) Investment tip share (t) Permira (t) Software industry