BERLIN (dpa-AFX) - Serviceware SE said it has set its initial public offering price at 24.00 euros per share.
In total, 3.70 million shares have been placed with investors, thereof 2.50 million newly issued shares from a capital increase, 720,000 shares from the holdings of existing shareholders and 483,000 shares from an over-allotment. The offer was clearly oversubscribed.
The total volume of the issue amounts to 88.9 million euros. Assuming the exercise of the Greenshoe option, the free float will amount to about 35 percent. At the offer price, Serviceware's market capitalisation at the start of trading will total around 252 million euros.
The gross proceeds for the Company total 60 million euros.
Serviceware said it intends to use the net proceeds to finance its growth via M&A, further internationalisation as well as scale-up of the sales force to increase penetration of large enterprise customers.
Shares of Serviceware are expected to be listed on the regulated market(Prime Standard) of the Frankfurt Stock Exchange and the ticker symbol 'SJJ' from 20 April 2018. Settlement is planned for 23 April 2018.
Copyright RTT News/dpa-AFX