Slack wants to be public - FAZ - Frankfurter Allgemeine Zeitung

DThe office communication service that Slack wants to use. The authorities had filed an application for the placement of shares, the company said Monday in San Francisco. More information Slack did not call.

According to information from the Bloomberg news agency, the company plans to sell shares directly to investors last year, just like Spotify, thereby circumventing the more expensive classic procedure through investment banks (initial public offering, IPO in brief).

No new capital

In this case, Slack does not receive any new capital. It is a simple list after existing shareholders can sell shares on the stock exchange. The stock exchange listing is scheduled until the middle of the year.

The company is seeking a valuation of more than $ 7 billion (nearly € 6.1 billion), reports Bloomberg, referring to a person familiar with the case. In the recent financing round of just over $ 400 million in August last year, the company was valued at $ 7.1 billion.

The company did not want to comment on the details of the exhibition plans. Direct placement is considered risky because banks do not act as intermediaries or price stabilizers. On the other hand, it is cheaper.

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To the detail view

The price of Spotify initially was well developed initially. The offer began at $ 165.90 in early April, well above the reference price of $ 132. Mid-July it had risen to just under $ 200 before it plummeted to $ 103 by the end of the year, amid the general weakness in technology shares. Recently, the price was slightly higher than the reference price at $ 139. Spotify is valued at the stock exchange with about $ 25 billion.

In addition to Slack, several other American technology companies are also going to the stock market. According to reports in the media, Uber, the transport service broker, took the first step in December with a confidential application for a placement of a share. According to the information, there may already be an Uber IPO in the first quarter of 2019. Uber had raised about $ 20 billion in investor funds and loans in recent years. According to media data, banks said they would offer up to $ 120 billion for an initial public offering. However, this initial public offering has been speculating for several years.