Cleary Gottlieb is representing Planisware in its initial public offering comprising a sale of shares by existing shareholders in a private placement to institutional investors and a listing on Euronext Paris.
The transaction launched on April 16, 2024, and is expected to close on April 22, 2024. Trading started on April 18, 2024.
This transaction is the first initial public offering in France to be carried out without a retail tranche, allowing limited exposure to market volatility, benefitting from a reform to the general regulation of the French Autorité des Marchés Financiers adopted shortly before the offering.
The offering amounts to approximately €241 million or approximately €278 million if the over-allotment option is exercised in full. The shares were offered in France and outside of France in a private placement to institutional investors including under Rule 144A in the United States. BNP Paribas and Citigroup are acting as joint global coordinators and joint bookrunners. Bank of America and Berenberg are acting as joint bookrunners. Rothschild & Cie acted as financial advisor.
Planisware is a leading business-to-business provider of software-as-a-service serving, through 12 offices in 10 countries, approximately 550 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide in the rapidly growing Project Economy. Planisware is a state-of-the-art SaaS platform based on in-house cloud infrastructure and proprietary technology with strong innovation capabilities enhanced by AI features. Planisware’s technology stack has a proven track record of high scalability and configurability in supporting large clients managing either extremely sophisticated or numerous projects. Planisware’s product leadership has been recognized by leading independent technology research organizations such as Gartner, Forrester, and Info-Tech Research Group, who have consistently ranked Planisware as a leading vendor in numerous categories.