October 14, 2019 / 10:24 AM / a month ago

SoftwareOne flotation oversubscribed - Bookrunner

ZURICH, Oct 14 (Reuters) - Swiss IT services company SoftwareONE Holding has had a strong response to its planned flotation, with books for its offering oversubscribed and on track to raise nearly 1 billion ($1.00 billion) francs, a bookrunner for the IPO said on Monday.

Up to 44.3 million shares with a price range of 16.50 to 21.00 Swiss francs feature in the total offering, which includes a greenshoe over allotment option.

The valuation means 731 million francs to 931 million could be raised in the secondary offering, which comes as investors including U.S. private equity firm KKR and some staff reduce their holdings.

SoftwareONE, an IT services company based in Stans, central Switzerland, is due to list on the SIX Swiss Exchange on or around Oct. 25.

$1 = 0.9951 Swiss francs Reporting by John Revill

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