SUSE IPO Disappoints
An anonymous reader quotes a report from ZDNet: Swedish private equity firm EQT had high hopes for its SUSE IPO on the Frankfurt Stock Exchange, and set the European Linux and cloud power's IPO price at 30 euros per share. Alas, SUSE's shares opened at 29.50 euros per share. By the close of business on May 20th, the stock crept up to 30.39 euros. This gave it a market cap of around 5 billion euros (approximately $6.1 billion). This is nothing to sneeze at, but it wasn't what EQT hoped for either. Before the IPO, EQT had sought an IPO price as high as 34 euros per share. Still, this was no failure. SUSE and its backers sold 37.8 million shares in the IPO, for 1.1 billion euros. EQT is still keeping a stake. SUSE itself continues to do well with reported revenue of $503 million for the 2020 financial year.
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