Financial investor Permira offloads Teamviewer shares once more
Exuberant financial tycoon Permira keeps milking software titan Teamviewer. The dispensing of 13 million shares serves to shrink its stake from roughly 21% to about 14%. The investor's announcement came on Monday evening, with each share fetching 13.90 euros - a 7% discount compared to Monday's Xetra closing price. This second-round sale brought in a tidy sum of 180 million euros for Permira.
The Teamviewer share wilted on Tuesday due to this recent sale. The downturn shaved over 8% off the share price, which plummeted below the 14-euro threshold. In the heart of the coronavirus pandemic back in 2020, the share was still worth over 50 euros.
Permira has historically earned hefty returns from Teamviewer. The investment firm netted a massive 5.4 billion euros through Teamviewer's IPO and subsequent share sales. The most recent sale boosts this figure to about 5.6 billion euros. At a share price of 14 euros, the remaining 14% bundle is valued at approximately 350 million euros.
Permira acquired Teamviewer in 2014 for approximately 870 million euros and later ushered the company onto the stock exchange in fall 2019. Permira crowned their achievement with a staggering 2.2 billion euros from Germany's largest tech IPO since the millennium's dotcom bubble burst.
Permira's decision to sell additional Teamviewer shares once more underscores the company's strategy of maximizing profits through the software provider. With the recent sale, Permira now owns approximately 14% of Teamviewer's shares, down from the initial 21%.
Teamviewer's share price took a tumble post-Permira's latest share sale. On Tuesday, the share shed over 8% in early Xetra trading, sliding below the 14-euro mark.
Insights: Teamviewer's financial performance continues to shine, with revenue up by 9% year-on-year and enterprise revenue surging by 26% year-on-year in FY 2024[1]. This stellar showing could potentially stymie the impact of Permira's share disposals on the share price. Additionally, the stock market has remained relatively stable, further mitigating potential sway from Permira's actions[2].
[1] TeamViewer Q4 2024 Financial Results [2] Market Indexes & Indices of 2024
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