DGAP-News: TeamViewer AG / Key word(s): IPO
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Final offer price for shares in TeamViewer AG set at EUR 26.25 per share
Göppingen, September 24th, 2019 - The final offer price for the shares in TeamViewer AG was today set at EUR 26.25 per share by the company's current owner, Tiger LuxOne S.à r.l. (the "Selling Shareholder"), a holding company majority owned by funds advised by global private equity firm Permira. In total, 84,000,000 ordinary bearer shares with no par value from the holdings of the Selling Shareholder are being placed with investors (including upsize option and greenshoe option). Assuming full exercise of the greenshoe option, the total offer volume amounts to circa EUR 2.21 billion and to a total market capitalization of TeamViewer of EUR 5.25 billion, in each case based on the final offer price.
Upon completion of the offering and assuming full exercise of the greenshoe option, the Selling Shareholder will continue to hold 58.0% of the shares in the Company and the expected free float will amount to 42.0%.
Oliver Steil, CEO of TeamViewer, said: "The strong interest of investors in our IPO is a great endorsement of our work. We are excited to further strengthen our position as a leading global connectivity platform. Backed by this tailwind, we are set to continue our journey and to best serve our customers with innovative use cases to connect anyone, anything, anywhere, anytime."
TeamViewer's shares are expected to be trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange from 25 September 2019. About 300 employees from various locations including Göppingen will celebrate the first trading of the shares at the Frankfurt Stock Exchange.
Jörg Rockenhäuser, Head of DACH at Permira, said: "The whole TeamViewer team can be very proud of what they have achieved. Such a success does not happen by accident but needs certain ingredients: an excellent and differentiated product or service, an entrepreneurial and committed team and a world class leadership with operational know-how and a strong vision. TeamViewer combines all these elements which explains this success story 'made in Germany'. We are convinced that TeamViewer is very well positioned as leading global connectivity platform and the Permira Funds will continue to back the company as a major shareholder."
TeamViewer's trading symbol is TMV, the German securities code (WKN) A2YN90, and the international securities identification number (ISIN) DE000A2YN900. The settlement and completion of the offering is planned for 27 September 2019.
Goldman Sachs International and Morgan Stanley are acting as Joint Global Coordinators and Joint Bookrunners. BofA Merrill Lynch and Barclays have been mandated as Joint Bookrunners. RBC Capital Markets is acting as Co-Lead Manager. Lilja & Co. is acting as the independent adviser to the shareholder and TeamViewer.
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This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada, Japan, South Africa or in any jurisdiction to whom or in which such offer or solicitation is unlawful.
This announcement and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy securities. The offer has been made solely by means of, and on the basis of, the securities prospectus dated 11 September 2019 (the "Prospectus"). An investment decision regarding the publicly offered securities of TeamViewer AG should only be made on the basis of the Prospectus. The Prospectus was published promptly upon approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, "BaFin") and is available free of charge at TeamViewer AG, Jahnstraße 30, 73037 Göppingen, Germany, or on the Company's website https://ir.teamviewer.com. The approval of the prospectus by the German Federal Financial Supervisory Authority should not be understood as an endorsement of the securities.
This announcement may not be published, distributed or transmitted in the United States, Canada, Australia or Japan. This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities (the "Securities") of the Company in the United States, Australia, Canada or Japan or any other jurisdiction in which such offer or solicitation is unlawful. The Securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Securities of the Company have not been, and will not be, registered under the Securities Act. There will be no public offering of the securities in the United States. The securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan subject to certain exceptions.
In Member States of the European Economic Area, with the exception of the Federal Republic of Germany, this announcement is directed only to "qualified investors" within the meaning of Article 2 lit. e) of Regulation (EU) 2017/1129 of 14 June 2017.
In the United Kingdom, this document is only being distributed to and is only directed at persons who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) through (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). This document is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.
This publication constitutes neither an offer to sell nor a solicitation to buy securities of the Company. No public offering of securities is currently made in any jurisdiction. Any public offering of securities in any jurisdiction would only be made pursuant to an approved and publicly available securities prospectus.
Goldman Sachs International, Morgan Stanley & Co. International plc, Merrill Lynch International, Barclays Bank PLC and RBC Europe Limited are acting exclusively for the Company and the selling shareholder and no-one else in connection with the transaction. They will not regard any other person as their respective client in relation thereto and will not be responsible to anyone other than the Company and the selling shareholder for providing the protections afforded to their respective clients, nor for providing advice in relation to the transaction, the contents of this announcement or any other matter referred to herein.
Statements contained herein may constitute "forward-looking statements." Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate," "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's or its industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. You should not place undue reliance on forward-looking statements and the Company does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.