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Suse: Nuremberg software company goes public

The Linux software provider Suse from Nuremberg went to the Frankfurt Stock Exchange on Wednesday.

A total of 37.3 million shares are to be issued, which means that the issue volume should be a good 1.1 billion euros.

CEO Melissa Di Donato is the first woman in Germany to have a billion-dollar company listed on the stock exchange.

Suse, the Linux software provider from Nuremberg, went public on the Frankfurt stock exchange on Wednesday. The issue price was previously set at EUR 30 per share. A total of 37.3 million shares are to be issued, which means that the issue volume should be a good 1.1 billion euros. The company was valued at a good five billion euros.

The company is run by the 47-year-old American Melissa Di Donato. The “FAZ” recently described her as “an exception in the managerial caste: offensively blond, offensively feminist”. In 2019 she came to Suse from the DAX group SAP. As a female manager, she is the first woman in Germany to have a billion-dollar company listed on the stock exchange.

The start in Frankfurt was initially bumpy: The first price of the paper was 29.50 euros below the offer price of 30 euros and then fell to just under 28 euros. In the following period, however, the shares of Suse recovered to the last 30.15 euros. The original price range when the company went public was 29 to 34 euros.

"Important strategic milestone"

Melissa Di Donato, CEO of Suse, said on Monday the IPO was an "important strategic milestone". It gives "long-term financial and strategic freedom of action and enables us to continue to pursue our organic and inorganic growth goals". The company itself received 549 million euros from the IPO, as the "Handelsblatt" reported. It should be used to reduce the approximately 1.2 billion euros in debt. The Swedish investor EQT will receive around 570 million euros and will hold a good 75 percent of the shares even after the IPO.

This year, Suse is the third company to go public in Frankfurt and collect more than one billion euros. Previously, the used car dealer Auto1 went public in January (1.8 billion euros) and the Vodafone subsidiary Vantage Towers in March (2.3 billion euros).

The company is growing, but is not yet profitable, as the "Handelsblatt" reported. In the past fiscal year, Suse posted sales of $ 466 million - an increase of 13 percent compared to the previous year. However, due to high costs, there was a loss of $ 52 million in the end.

With material from DPA