Linux Suse software provider wants to bring half a billion dollars into the exchange.
German Linux software company Suse aims to enter the Frankfurt Stock Exchange in the next few weeks. Founded in 1992, Suse announced its desire to raise $ 500 million (€ 414 million) through the issuance of new shares, while Swedish financial investor EQT, who joined in 2018, relinquishes part of its shares.
The OS provider wants to use the money to pay off part of its debt. “The planned IPO gives us the strategic and financial flexibility with which we can secure our independence in the long term,” said Melissa Di Donato, CEO of Suse.
The deal should continue into the second quarter, Suse announced. It usually takes about four weeks from the start of the official shot to the initial roster. The issue was regulated by investment bankers Bank of America and Morgan Stanley. Reuters reported in March that Soss was aiming to value the initial public offering (IPO) from 7 to 8 billion euros. EQT bought the company from Micro Focus for $ 2.5 billion. EQT Partner Johannes Reichel states: “EQT will continue to support Suse as the largest shareholder in the future. We are more convinced than ever of the company’s long-term potential.”
In the 2019/20 fiscal year (ending October), Suse increased its sales by 17 percent to $ 503 million. In the first quarter of 2020/21, it rose again 17 percent to $ 134 million.
(APA / Reuters)