The German software firm TeamViewer is expected that the price will be in the upper half of the range, bookrunner

FILE PHOTO: The headquarters of the German company, Team Viewer, which is shown in Goeppingen, Germany on September 14, 2019. REUTERS/Michael Dalder

FRANKFURT (Reuters) – German software firm TeamViewer will be expected to set the price of its initial public offering in the upper half of the range, one of the bookrunners said on Monday, suggesting that Europe’s largest Ipo of the year, is still on track.

The deal values the company at up to $ 5.3 billion euros ($5.84 billion), and Germany’s only 2019 list of in addition to VW’s truck unit, Traton (8TRA.DE).

“The books were multiple times oversubscribed at this range and above, the bookrunners said in a note to investors ahead of Tuesday’s conclusion of the book, to add to that, the pricing guidance was 25.50–26.50 euros per share.

Simple and sell software for online meetings, remote desktop access, with more than 20 million of support sessions every day on its platform. Unlike a lot of other tech companies to the stock market, Simple and is cost-effective.

The private-equity-backed firm had offered its shares at between 23.50 and 27.50 euros each, with the debt ratio, ranging from 30% to 42% of the company’s shares, subject to the total offer size. On the first day of trading is scheduled for Oct. 25.

Permira [PERM.UL] bought in Front of it for a sum of € 870 million in 2014, and Permira, Germany head Joerg Rockenhaeuser said that the investor wanted to remain a significant shareholder after the IPO.

TeamViewer says that the addressable market is currently valued at 10 billion euros, which will grow to 30 billion by 2023, as well as companies to invest in the electronic control of production machines, and the trend for employees to work from home and be reinforced.

Stated, you will never have to Zoom Video Communications, Inc., ZM.(O), Okta, Inc., OKTA.D), and Slack Technologies, Inc. (the WORK).(N), which is listed on the New York Stock Exchange in June in a blockbuster, appreciation, and more than 50 times the revenue.

($1 = 0.9080 eur)

Reporting by Arno Schuetze, editing by Thomas Escritt

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