WeTransfer owner WeRock NV to seek Amsterdam IPO


The owner of the WeTransfer file transfer service said on Wednesday that the firm intends to go public with an initial public offering (IPO) of shares and to list on the Euronext stock market in Amsterdam.

In a statement, WeRock NV said that the offering, for which a specific date has not yet been announced, will involve both a main and a secondary sale of stock.

Currently, WeTransfer has 87 million monthly users and aims to have generated revenues of more than 100 million euros ($113.66 million) in 2021, according to a statement from the firm.

According to the company’s CEO, Gordon Willoughby, “our distinctive and proven ‘freemium’ business model, which combines subscriptions and premium advertising, has backed our constant track record of robust, profitable development.”

According to the firm, adjusted profits before interest, taxes, depreciation, and amortization (EBITDA) were 21.3 million euros on sales of 72 million euros for the first nine months of 2021.

It intends to achieve revenue growth of more than 20% in the medium future.

It is anticipated that the initial public offering (IPO) would comprise of the sale of 160 million euros in new shares, as well as the acquisition of additional existing shares by Highland Europe Technology and HPE Institutional Fund, in order to achieve a “significant free float.”

According to the corporation, the proceeds would be utilized for investments in marketing, personnel, customer service, and prospective acquisitions.

In addition to ABN Amro and Barclays Bank serving as bookrunners, Morgan Stanley and BofA Securities are acting as global coordinators for the transaction.

Also Read for More Info:   Kenyan BNPL startup Lipa Later eyes more African markets after raising $12 million

(1 dollar equals 0.8798 euros)


Please enter your comment!
Please enter your name here