Shares in TeamViewer, a software application for screen sharing and online meetings have started trading on the Frankfurt stock exchange after the German company made the biggest initial public offering (IPO) in Europe this year, the Financial Times reported.
Shares in TeamViewer began trading at €26.25 euros ($28.88), valuing the company at €5.25 billion ($5.78 billion).
The shares fell slightly after markets opened, however, and were recently trading around €25.50.
TeamViewer’s owner, Britain-based investment firm Permira, which bought the company for €870 million in 2014, sold 42% of its holding, equivalent to €2.21 billion.
Teamviewer has about 800 employees, about half of which work at its offices in Goeppingen, outside the southwestern city of Stuttgart.
TeamViewer develops and sells software that allows users to connect to online meetings and to access each other’s computers remotely.
Its software can also be used by medical professionals for remote consultations with patients.
Photo: Sharaf Maksumov/Shutterstock