Swiss software company SoftwareONE AG priced its IPO at CHF18 per share, according to a stock exchange update.
The price translates to a market capitalization of CHF2.85 billion.
The IPO on the SIX Swiss Exchange consists of secondary shares, with the company's founders retaining the largest stake at more than 30%, while private equity firm KKR & Co.., which owns a 25% stake, retaining a significant interest.
Founding shareholders Chairman Daniel von Stockar and KKR will retain their seats on SoftwareONE's board.
SoftwareONE tapped Rothschild & Co. SCA as financial adviser on the planned listing.