By Andrea Figueras
French software company Planisware launched an initial public offering on Euronext Paris, setting an indicative price range that would result in gross proceeds of up to 312 million euros ($329.9 million).
Around 15.1 million shares will be sold at a price between EUR16 and EUR18 a share, the company said on Monday. The IPO will include an option to sell an additional 2.26 million shares.
Gross proceeds from the IPO will range between around EUR278 million and EUR312 million, assuming full exercise of the overallotment option. The company said proceeds will only by received by the selling shareholders.
Planisware also said the listing will give it greater market visibility and financial flexibility for potential growth opportunities in the future.
The pricing of the offering is expected to be determined on Oct. 11, while trading should start on Oct. 12, according to the company.
Write to Andrea Figueras at andrea.figueras@wsj.com
Read the full article here