SoftwareOne covers Sfr700m IPO on day one
SoftwareOne Holding, the KKR-backed IT services company, is making good progress on its IPO on the SIX Swiss Exchange, despite market sentiment being hit by the poor aftermarket performance of TeamViewer, the German software company that listed in Frankfurt last month.
It look less than three hours for the deal to be covered on Monday morning after SoftwareOne set the price range at Sfr16.50 to Sfr21, implying a valuation of Sfr2.5bn to Sfr3.2bn.The range would give SoftwareOne an enterprise value of roughly 17.5 to 22.5 times the company’s predicted ...
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