IPO values screen-sharing app maker Teamviewer at $5.78B

International
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BERLIN (AP) — Teamviewer, the maker of the eponymous screen sharing and conferencing software, has made the biggest initial public offering for a German tech company since the dot-com boom.

Shares in Goeppingen-based Teamviewer began trading at 26.25 euros ($28.88) on the Frankfurt exchange Wednesday, valuing the company at 5.25 billion euros ($5.78 billion).

Up to 42% of Teamviewer’s stock, or 84 million shares, are being offered publicly.

Teamviewer’s owner, Britain-based investment firm Permira, bought the company for 870 million euros in 2014 and will retain a stake of at least 58%.

The company provides a free version of its software and a premium version with about 368,000 subscribers.

Teamviewer has about 800 employees, about half of which work at its offices in Goeppingen, outside the southwestern city of Stuttgart.

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