FRANKFURT (dpa-AFX) - Shares in Teamviewer fell to their lowest level since the beginning of February on Tuesday following a further sale of shares by major shareholder Permira. Around midday, the shares of the software provider lost 10.5 percent to 13.39 euros and were thus the clear tail light in the weaker MDax of medium-sized companies.
The financial investor Permira placed 13 million Teamviewer shares, reducing its stake from just under 21 percent to around 14 percent. The shares were offered for 13.90 euros each, around seven percent below the Xetra closing price on Monday. The financial investor is thus raising a further 180 million euros, having already raised 5.4 billion euros through the Borsengang and the staggered sale of shares in the following years.
Jürgen Molnar, capital market strategist at RoboMarkets, spoke of a "more than good deal" with regard to Permira's overall commitment to Teamviewer. Permira had bought Teamviewer in 2014 for around 870 million euros and then floated it on the stock exchange in fall 2019. In what was then the largest German tech IPO since the dotcom bubble burst at the turn of the millennium, Permira alone raised 2.2 billion euros.
However, the question arises as to why the investor is now selling off more shares after the share price has halved since the Borsen IPO, Molnar said. "Like the major investor, other shareholders could soon lose faith in the turnaround at Teamviewer, which is just beginning to take shape."
Teamviewer shares are still struggling to recover from the crash in 2021. The share price has still gained around 11 percent in value since the start of the year. However, the shares were also worth more than 50 euros at the height of the coronavirus pandemic in 2020. In the fall of 2022, they hit a record low of less than 8 euros./edh/ajx/jha/