September 25, 2019
IPO values screen-sharing app maker Teamviewer at $5.78B
Teamviewer, the maker of the eponymous screen-sharing and conferencing software, has held the biggest initial public offering for a German tech company since the dot-com boom.
Shares in Teamviewer began trading at 26.25 euros ($28.88) on the Frankfurt exchange Wednesday, valuing the company at 5.25 billion euros ($5.78 billion).
Up to 42% of Teamviewer's stock, or 84 million shares, have been offered publicly.
Teamviewer's owner, Britain-based investment firm Permira, bought the company for 870 million euros in 2014 and will retain a stake of at least 58%.
Teamviewer has about 800 employees, about half of which work at its offices in Goeppingen, outside the southwestern city of Stuttgart.
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