Financial investor Permira sells Teamviewer shares again
The financial investor Permira continues to cash in on the software provider Teamviewer. The placement of 13 million shares reduces its stake from just under 21 percent to around 14 percent, as the investment company announced on Monday evening. The shares were sold for 13.90 euros each, around seven percent below the Xetra closing price on Monday. The financial investor thus raised a further 180 million euros.
The Teamviewer share came under pressure on Tuesday as a result of the placement. The share lost over eight percent in early Xetra trading and fell below 14 euros. At the height of the coronavirus pandemic in 2020, it was still worth more than 50 euros.
Permira had already raised EUR 5.4 billion through the IPO and the staggered sale of shares in the years that followed. The new placement increases the financial investor's total proceeds to around EUR 5.6 billion. Added to this is the remaining 14 percent package, which is worth around 350 million euros at a share price of 14 euros.
Permira bought Teamviewer in 2014 for around 870 million euros and then floated it on the stock exchange in fall 2019. Permira had raised 2.2 billion euros in the largest German tech IPO since the dotcom bubble burst at the turn of the millennium.
The financial investor's decision to sell additional Teamviewer shares once again demonstrates its strategy of maximizing returns through the software provider. With the recent placement, Permira now holds approximately 14% of the software company's shares, down from its initial 21%.
The software provider, Teamviewer, saw its share price decrease following Permira's latest share placement. On Tuesday, the share lost over 8% in early Xetra trading, sliding below the 14-euro mark.
Source: www.dpa.com
