Private equity investor Permira is selling 12 million shares in German software company TeamViewer through an accelerated bookbuilt offering, the bookrunner on the deal said on Tuesday.

Permira floated TeamViewer in September 2019 and has since sold down its stake gradually. At Tuesday’s closing price of 46.50 euros, the stake would be worth 558 million euros ($676 million) although such placements are usually done at a modest discount.

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Source: Reuters