• Planisware (the "Company") is a leading business-to-business ("B2B") Software-as-a-Service ("SaaS") provider in the rapidly growing Project Economy
• The contemplated Initial Public Offering ("IPO") aims to further strengthen Planisware's position across strategic markets by increasing its market visibility and brand awareness
• Structure of the IPO:
o Admission to trading on the regulated market of Euronext Paris ("Euronext Paris") of all the existing ordinary shares comprising the share capital of the Company
o Global offering via private placement to institutional investors inside and outside of France (the "Offering")
• Offering Price: €16.00 per share
• The subscription period of the Offering is expected to end at 5pm CET on April 17, 2024. Trading of the shares on the regulated market of Euronext Paris on a when-issued basis is expected to start on April 18, 2024
• Size of the Offering: a maximum of 15,085,000 ordinary shares of the Company (the "Initial Sales Shares") representing approximately €241 million to be sold by (i) Olhada Sàrl ("Olhada1"), (ii) various funds managed by Ardian France SA ("Ardian"), and (iii) certain current or former employees and managers of the Company (the "Selling Managers" and, together with Olhada and Ardian, the "Selling Shareholders")
• Over-Allotment Option: up to 2,262,750 additional ordinary shares (the "Option Shares" and, together with the Initial Sales Shares, the "Offer Shares"), representing approximately €36 million to be sold by (i) Olhada and (ii) Ardian in the event of the exercise in full of the Over-Allotment Option
• Certain investors have undertaken to place an order in the book for the Offer Shares, each in an amount of €25 million (i.e., an aggregate amount of €100 million), and to purchase all of the Offer Shares allocated to them at the Offering Price
• Following the IPO, the founders will retain a majority stake in Planisware and active roles in company leadership
• With global scale, a clear roadmap, a business model with highly recurring revenue and robust operating leverage, Planisware is well-positioned in the large and double-digit growing project portfolio management solutions market
• With its 12 offices and c. 700 employees in more than 38 countries, Planisware serves approximately 545 blue-chip clients globally, leaders in their respective industries, across a wide range of verticals and corporate functions
• Planisware has a proven track record of strong organic growth, profitability, and cash conversion, with consolidated revenue growing at a compounded annual rate of c.20% over the 2020-2023 period. Planisware forecasts annual total revenue growth in constant currencies2 of c.19.5% and an Adjusted EBITDA margin of c.33% in 2024
1 Holding company of Planisware's founders, who will retain a majority stake in Planisware, post-IPO.
2 Applying to 2024 revenues the average exchange rates used during 2023.
Paris, France, April 16, 2024 - Planisware, a leading B2B SaaS provider in the rapidly growing Project Economy, announces today the launch of its IPO by way of private placement to institutional investors, in view of the admission of its shares to trading on the regulated market of Euronext Paris (Compartment A) following the approval of its prospectus with respect to the admission to listing of its shares on Euronext Paris by the Autorité des Marchés Financiers (the "AMF"), the French financial markets authority, under number 24-114 (the "Prospectus").
Pierre Demonsant, Co-founder and Chairman of Planisware, commented: "Following the publication of our strong 2023 results, we are thrilled to launch our IPO on Euronext Paris. An IPO would mark the next chapter of growth and sustainable value creation for Planisware. It would represent an important step for the future development of the Group over the long term, enabling us to further enhance our visibility and brand awareness, to pursue our growth strategy and consolidate our leading market position while continuing to expand our global presence with a proven go-to-market strategy."
Loïc Sautour, CEO of Planisware, added: "A listing on Euronext Paris would support our ambition to become the global leader in project management SaaS solutions. Our strategic role in helping our clients plan and deliver their project portfolios has allowed us to consistently achieve strong growth and profitability over the years. An IPO would enable us to continue to expand our track record of strong financial performance and to create value for our clients and shareholders, seizing the opportunities offered by the rapidly growing Project Economy.
Download full press release:
https://fr.planisware.com/system/files/2024-04/Planisware%20launches%20its%20IPO%20on%20Euronext%20Paris%20-%20PR.pdf
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