FRANKFURT, May 19 Reuters Shares in enterprise software company SUSE held their own in a Frankfurt stock market debut on Wednesday, climbing just above their 30 euro issue price, giving the group a market cap of around 5 billion euros 6.1 billion.
Nurembergbased SUSE had priced the deal towards the lower end of a 29 to 34 euros per share range with a view to securing a solid aftermarket performance, after volatile markets derailed a number of other European flotations.
CEO Melissa di Donato, the first woman to lead a highprofile initial public offering in Frankfurt, rang the opening bell in a video message showing images of cheering team members projected on to a screen behind her.
This is the start of an incredible journey, said the American veteran of SAP, who was hired by private equity investor EQT two years ago and has her sights set on sustaining doubledigit growth.
SUSE provides opensource software for companies to run applications at cloud datacenters, onpremise servers, mainframe computers and devices at the edges of networks, making it a play on digital transformation.
The company, founded three decades ago, runs on the Linux open source standard and counts 60 of the U.S. Fortune 500 companies among its customers.
The IPO adds to a busy Frankfurt season, following the 10 billion listing by German usedcar trading platform AUTO1 , a 14 billion debut by Vodafones Vantage Towers and the 5 billion IPO of labs group Synlab.
While these deals have proved good…