(Finance) – Planiswarea B2B SaaS service provider in the Project Economy sector, announced the launch of its Initial Public Offering (IPO) via private placement with institutional investors, in view of the admission of its shares on Euronext Paris. The company had postponed its listing on Euronext Paris at the last minute to October 2023 due to “difficult market conditions”.
“After the publication of our excellent results for 2023we are excited to launch our IPO on Euronext Paris – he commented Pierre Demonsant, co-founder and president of Planisware – An IPO would mark the next chapter in growth and sustainable value creation for Planisware. It would represent an important step for the future development of the group in the long term, allowing us to further improve our visibility and brand awareness, to pursue our growth strategy and consolidate our leading position in the market, continuing to expand our global presence with a proven go-to-market strategy”
Planisware operates globally through its offices in 10 different countries, serving approximately 545 customers across a broad range of verticals and functions in more than 38 countries, across Europe, North America, Asia Pacific and the Middle East. For the year ended December 31, 2023, Planisware recorded total revenues of approximately 156 million euros and a Adjusted EBITDA of approximately 52 million euros, obtaining an adjusted EBITDA margin of 33%.
The Planisware IPO will consist of: sale of a maximum of 15,085,000 shares (representing approximately 241 million euros) by the selling shareholders; and in the sale of a maximum of 2,262,750 shares under option (equal to approximately 36 million euros) by Olhada and Ardian, in the event of exercise of the Option Over-Allocation. The offer price is 16 euros per share.
The following investors have committed to placing an order in the book, each for an amount of 25 million euros (i.e. a total amount of 100 million euros): CDC Tech Premium, a mutual investment fund of the Caisse des Dépots Group; DNCA Finance; Invesco Asset Management; T. Rowe Price International.
The proceeds gross of the sale of the shares in the offer will amount to approximately 241 million euros, which can be increased up to a maximum of approximately 278 million euros (in the event of full exercise of the Over-Allotment Option). The company will not receive any proceeds, which will go to the selling shareholders.