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TeamViewer expects IPO's price to reach upper range, book runner says

TeamViewer Germany GmbH expects to price its IPO in the upper half of its projected range of €23.50 and €27.50 per share, Reuters reported, citing one of the Germany software company's book runners.

The company's shares are oversubscribed ahead of planned Sept. 25 launch on the Frankfurt Stock Exchange, the report said, citing the book runner, adding that orders below the €26.25 per share price point may "risk missing the transaction."

TeamViewer's IPO offer consists of up to 84.0 million existing shares from the holdings of TeamViewer's current owner, TigerLuxOne SARL, a holding company majority-owned by funds advised by private equity firm Permira Advisers Ltd.

The German company expects gross proceeds of between €1.41 billion to €2.31 billion, depending on the final number of shares placed and the issue price.