September 25, 2019 / 7:37 AM / 9 months ago

TeamViewer shares open flat after Europe's biggest IPO of the year

Oliver Steil, Chief Executive Officer of software company TeamViewer AG, Joerg Rockenhaeuser of Permira and Stefan Gaiser, Chief Financial Officer of TeamViewer attend TeamViewer's initial public offering (IPO) at the Frankfurt Stock Exchange in Frankfurt, Germany, September 25, 2019. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - Shares in German software company TeamViewer traded flat at their offer price in Frankfurt on Wednesday, their first day of trading, in what is Europe’s biggest stock market debut this year.

Shares opened at 26.25 euros, which was also the final subscription price the company revealed late on Tuesday, and stood at 25.45 euros at 0729 GMT.

Private equity investor Permira sold a 42% stake in the connectivity specialist, raising 2.21 billion euros ($2.43 billion).

Reporting by Douglas Busvine and Tassilo Hummel; Editing by Thomas Seythal

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