The IPO (Initial Public Offering) market has taken a huge hit this year in almost all of the world’s markets making the scheduled IPOs to shift their listing dates a little further and the ones who have launched their IPOs at the given times in 2019 have mostly been subjected to huge failures on the listing markets.
Göppingen-based TeamViewer was founded back in 2005 as a local provider of tools for remote computer access. It’s expanded ever since and is now active in a total of 180 nations around the globe, with remote desktop access and online meeting modules being core ingredients of the software package. The company is often described as a hidden champion, although it has powerful, already listed competitors such as Zoom Video Communications, Okta and Slack Technologies. The latter celebrated its IPO on the New York Stock Exchange (NYSE) in June of this year, boasting a valuation of over 50 times its revenues. TeamViewer priced its initial public offering at 26.25 per share, thus valuing the firm at €5.25 billion ($5.8 billion). This made it the biggest stock market listing across Europe in 2019. What sets Teamviewer apart from many other tech candidates wanting to get listed is that the company is already profitable, with its subscription-based policy helping to boost revenues. Underwriters in Germany noted that TeamViewer shares are “multiple times oversubscribed,” indicating investors’ appetite for the biggest tech IPO in the country since Infineon (formerly belonging to Siemens) made its market debut back in the year 2000.
This IPO can prove to be the most beneficial one In the European market this year.