Does SUSE seek valuation of $6 billion in IPO?


Ella Jones, Deputy Editor In Chief

Date: 10.05.2021

Enterprise software company SUSE set the price range for its initial public offering in Frankfurt at 29 to 34 euros per share, implying a market capitalization of between 4.9 and 5.7 billion euros ($ 5.9- $ 6.9 billion).

SUSE, whose open-source software helps run applications on cloud servers, mainframe computers and devices at the edges of networks, said it was seeking to raise around 1 billion euros from investors.

American CEO Melissa di Donato, a veteran of SAP hired by EQT to run SUSE two years ago, has set her sights on sustaining double-digit revenue growth by both investing in the business and through acquisitions.

Funds managed by Capital Research Global Investors and GIC Private Limited have agreed to purchase shares worth up to 360 million euros subject to conditions, SUSE said, meaning that over a third of the IPO is covered by 'cornerstone' investors.

BofA Securities and Morgan Stanley are acting as Joint Global Coordinators and Joint Bookrunners, with Deutsche Bank, Goldman Sachs, Jefferies and J.P. Morgan supporting the transaction as Joint Bookrunners.

by Ella Jones | Linkedin


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