FRANKFURT, Sept 24 (Reuters) - German software company TeamViewer priced its initial public offering on Tuesday at 26.25 euros per share, valuing the connectivity specialist at 5.25 billion euros ($5.8 billion) in Europe’s biggest stock market listing this year.
The float marks a rare tech success story on a Frankfurt market heavy with industrial and auto stocks. It is also delivering a bonanza for Permira, the private equity investor that bought TeamViewer for 870 million euros in 2014.
Pricing was near the top end of a range set before a two-week roadshow to market the deal to investors. Permira is selling a 42% stake in TeamViewer, including over-allotment options, and will retain the remaining 58%.
That generated total proceeds of 2.21 billion euros for Permira - more than the 2 billion euros raised when Italian payments group Nexi floated in Milan this April.
Trading on the Frankfurt Stock Exchange will begin on Wednesday. ($1 = 0.9080 euros) (Reporting by Douglas Busvine Editing by Chris Reese)