(BFM Bourse) – The French software publisher is aiming for a valuation of between 1.1 and 1.25 billion euros following its IPO on compartment A of the regulated market of Euronext Paris. Planisware shares will trade in Paris from October 16.
Planisware is finally relaunching large-scale IPOs on the Paris Stock Exchange. The software publisher, which had formalized its plan to join the Paris market during the month of September, has since Monday morning opened the possibility to the general public and institutional investors to participate in its IPO on the regulated Euronext Paris market. .
The company is aiming for an entry into compartment A of Euronext Paris – reserved for the largest capitalizations of more than 1 billion euros – which has not seen new entrants since OVH Groupe, the European leader in cloud computing services , in October 2021.
Planisware has thus revealed the terms of its IPO which has been awaited for months. Planisware had already expressed its intention to join the Parisian market, last June thus formalizing market rumors.
Planisware shares are thus offered in a price range (therefore likely to be exceeded in one direction or the other) of between 16 euros and 18 euros until October 10, 2023 in the evening for individuals, with institutions being able to participate. to this operation until October 11 at 1:00 p.m.
Transfers of securities
The software publisher is targeting a valuation of between 1.1 and 1.25 billion euros at the end of the operation during which a maximum number of 15,085,000 existing shares will be sold, generating proceeds from the sale. between 241 million euros and approximately 272 million euros.
The securities in question will be sold by Olhada, the holding company of the founders of Planisware, various funds managed by Ardian France, and by certain current and former employees and managers of Planisware.
The offer will be supplemented by an over-allotment option targeting a maximum number of 2,262,750 additional ordinary shares representing approximately 36 million euros based on the lower limit of the indicative range of the offer price and approximately 41 million euros. euros based on the upper limit of the indicative range of the offer.
CDC Tech Premium – a vehicle created by CDC Croissance, intended to support technology companies as a long-term investor – has committed to placing an order in the order book for an amount of €25 million. euros, at the offer price, and has undertaken, within the limit of this amount, to purchase the transferred shares which would be allocated to it.
The founders will retain a majority stake in its capital following this IPO intended to strengthen Planisware’s visibility “with its customers and partners and to provide it with greater financial flexibility to seize possible future growth opportunities “. The operation “will also provide liquidity to the selling shareholders”, specifies the company.
A new phase of growth
Founded in 1996 by Pierre Demonsant, Planisware is a company specializing in the publishing of software for the Project Economy. This term is defined by the Project Management Institute as the part of the global economy in which “organizations create value for their stakeholders through successful project execution, product delivery, and value chain nesting.”
Thus, the French group provides solutions to help organizations transform the way they design, plan and deliver their projects, project portfolios, programs and products. Present in nine countries, the company serves 500 clients in a wide range of sectors and professions in more than 30 countries around the world, in particular numerous “key account” clients including the pharmaceutical giant Pfizer and the bank Société Générale.
In 2023 and 2024, the company plans to achieve revenue growth of 19.5%, which will be, according to Planisware, driven in particular by its SaaS (Software as a Service) activities. service, Editor’s note). Planisware’s adjusted Ebitda (gross operating surplus) margin is expected to exceed 31% in 2023 and reach approximately 33% in 2024. It aims to achieve an adjusted Ebitda margin of approximately 35% in 2026, an improvement of approximately 400 basis points compared to the financial year ended December 31, 2022.
The press release specifies that the settlement-delivery of the shares will take place on October 13, 2023 and that the shares “will be admitted to trading on the regulated market of Euronext Paris from October 16”, under the ISIN code: FR001400L0H5 and the mnemonic code PLNW.
Sabrina Sadgui – ©2023 BFM Bourse