ZURICH (Reuters) - Swiss software management company SoftwareONE on Monday announced plans to list shares on the SIX Swiss Exchange this year, taking advantage of a buoyant Swiss stock market.
The company, with 5,300 employees, is expected to be valued at several billion Swiss francs, Reuters reported previously. [nFWN21N0FV]
Headquartered in Stans, Switzerland, SoftwareONE helps companies manage an estimated 10 billion euros ($10.94 billion)in software purchases from vendors such as Microsoft (MSFT.O), Adobe (ADBE.O) and IBM (IBM.N).
The 20-year-old company said its gross profit rose to 724 million Swiss francs ($730.13 million) in 2018, up from 571 million francs in 2016, and that adjusted EBITDA margin rose to 33% from 17% in the same period.
“SoftwareONE is well placed to further capitalise on the ongoing digital transformation trend and underlying market growth,” it said in a statement.
The IPO consists of secondary shares, with the firm’s founders retaining the largest stake and financial investor KKR (KKR.N), which bought a 25% stake in 2015, retaining “significant interest”.
SoftwareONE said founding shareholders including Chairman Daniel von Stockar and KKR, will remain represented on the board of directors.
KKR and the company’s founders aim to benefit from a Swiss stock market near record highs, with the broad Swiss Performance Index up about 25% this year.
Credit Suisse, J.P. Morgan and UBS are joint global coordinators and joint bookrunners, while BNP Paribas, Citi, Deutsche Bank, Unicredit and Zuercher Kantonalbank are acting as joint bookrunners. Rothschild & Co is acting as financial advisor to SoftwareONE.
($1 = 0.9138 euros)
($1 = 0.9916 Swiss francs)
Reporting by John Miller; Editing by Michelle Martin and Emelia Sithole-Matarise