(News Bulletin 247) – The largest operation by a tech company since October 2021, the project management software publisher makes a notable debut on the Paris Stock Exchange.

The IPO of Planisware is one of the major events of the day on the Paris Stock Exchange. The French software publisher made its debut this Thursday on compartment A of Euronext Paris – reserved for the largest capitalizations of more than 1 billion euros – six months after a first attempt which was canceled due to security conditions. opposing market.

“Carried out as part of a private placement with institutional investors, the IPO (initial public offering) generated strong demand from leading investors, in France and internationally,” welcomes the project management specialist.

Biggest tech IPO since October 2021

To put all its chances on its side, Planisware has favored the private placement route for this “express” IPO. The company took advantage of a relaxation of IPO rules to relaunch its project in 2024.

For several weeks, companies wishing to join the Paris market have no longer been obliged to reserve part of their shares for individual investors. Previously, they were obliged to offer small holders a minimum of 10% of the overall amount of the operation.

The bet is therefore successful for Planisware which shines for its inaugural session. The title of the software publisher for project management in fact soared by 27% to 20,419 euros compared to the firm price of 16 euros retained for this major operation. Planisware securities have been trading since Thursday in the form of promises, that is to say shares which have not yet been created or delivered to investors, before their settlement-delivery which will be effective on Monday April 22.

At these prices, the market capitalization of Planisware amounts to 1.40 billion euros, to be compared with the targeted valuation of 1.1 billion euros, based on the offer price set at 16 euros for this operation.

This is the largest IPO of a tech company since OVH Group, the European leader in cloud computing services, in October 2021, and follows the arrival on the Paris Stock Exchange of the Pluxee group, resulting from its split with Sodexo last February.

The success of this IPO constitutes a strong positive signal for the Parisian market, after a very sluggish year 2023.

A Project Economy specialist

Planisware recalls that this IPO is mainly intended to strengthen its positioning “on its strategic markets by increasing its visibility and the notoriety of its brand”.

Founded in 1996 by Pierre Demonsant, Planisware is a company specializing in the publishing of software for the Project Economy. This term is defined by the Project Management Institute as the part of the global economy in which “organizations create value for their stakeholders through successful project execution, product delivery, and value chain nesting.”

On the occasion of the launch of this operation, Planisware detailed its outlook for the year 2024. For the current year, the company plans to achieve revenue growth of 19.5%, which will be according to Planisware, driven in particular by its SaaS activities (Software as a Service or in French, software as a service, Editor’s note), before achieving annual growth in its turnover at constant exchange rates of more than 20% in 2026.

Planisware’s adjusted Ebitda (gross operating surplus) margin is expected to be close to its level last year, around 33% in 2024. The company also expects to achieve an adjusted Ebitda margin of around 35% in 2026, an improvement of approximately 200 basis points (two percentage points) compared to the financial year ending December 31, 2023.