WeTransfer Owner Seeks Amsterdam IPO, Plans $182 Million Share Issue – The Epoch Times

AMSTERDAM—The proprietor of WeTransfer, which provides file sharing and collaboration instruments stated on Wednesday the corporate will search an preliminary public providing of shares and itemizing on Amsterdam’s Euronext inventory alternate.

The Amsterdam-based firm, quickly to be renamed “The Inventive Productiveness Group NV” stated its supply, for which a date has not but been set, would come with each a main sale of 160 million euros ($182 million) in new shares and a secondary providing of current shares by present homeowners and managers.

The corporate, finest recognized for the WeTransfer file switch service, has 87 million month-to-month customers and the group estimates it had gross sales of greater than 100 million euros in 2021, it stated in a press release.

“Our differentiated and confirmed ‘freemium’ enterprise mannequin, combining subscriptions and premium promoting, has underpinned our constant observe file of sturdy, worthwhile progress,” chief govt Gordon Willoughby stated.

The corporate reported adjusted earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) of 21.3 million euros on income of 72 million euros for the primary 9 months of 2021, it stated.

It targets annual income progress above 20 % within the medium time period.

Along with the brand new shares, current homeowners Highland Europe Expertise, which holds a 55 % stake, and HPE Institutional Fund, which has 13 %, intend to promote a but undetermined variety of current shares to create a “significant free float.”

Proceeds will likely be used for investments together with advertising and marketing,

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