Software group Planisware shares jump 29% in Paris trading debut
18/04/2024 08:54
LONDON, April 18 (Reuters) - Shares in French software
group Planisware PLNW.PA jumped almost 30% on their first day
of trading on Euronext Paris, adding momentum to a
much-anticipated revival in initial public offerings.
Planisware shares were trading at 20.7 euros on Thursday
morning, up 29% from their issue price.
The company's shareholders, including buyout group Ardian,
expect to raise up to 278 million euros from the stock sale,
according to a press release.
The company's founders will retain a majority stake.
Planisware attempted an IPO in the autumn of 2023, but tough
market conditions forced it to pull the plan.
The company returned with a fixed-price offer of 16 euros
per share, which attracted interest from investors including
Invesco, T. Rowe Price and CDC Tech Premium, it said.
Europe has seen a string of IPOs this year amid higher stock
prices. Performance, however, has been mixed, with German
perfume retailer Douglas falling below its issue price on its
market debut.
(Reporting by Pablo Mayo Cerqueiro; Editing by Kirsten Donovan)
((Pablo.MayoCerqueiro@thomsonreuters.com;))