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    IPO values Teamviewer at USD5.78B

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

    Shares in Teamviewer began trading at EUR26.25 (USD28.88) on the Frankfurt exchange yesterday, valuing the company at EUR5.25 billion (USD5.78 billion).

    Up to 42 per cent of Teamviewer’s stock, or 84 million shares, have been offered publicly. Teamviewer’s owner, Britain-based investment firm Permira, bought the company for EUR870 million in 2014 and will retain a stake of at least 58 per cent.

    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.

    The letters with the name of German tech company Teamviewer is displayed in front of the exchange in Frankfurt. PHOTO: AP

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