Bending Spoons prices IPO above range to raise $1.68bn ahead of Nasdaq debut
Bending Spoons, the Milan software group that owns Vimeo, WeTransfer and Evernote, has priced its US initial public offering above the marketed range to raise $1.68bn. The company and existing shareholders, including Baillie Gifford, sold 57.97 million shares at $29 each, according to a statement reported by Bloomberg.
That is above the $26 to $28 range the company had been marketing, a sign of firm demand for one of the largest European listings of the year.
The shares are expected to begin trading on the Nasdaq Global Select Market on Wednesday under the ticker “BSP”. The final figure lands modestly ahead of the roughly $1.62bn the group had targeted when it set its range in late June.
Bending Spoons is not a conventional software house. It behaves more like a private-equity firm with an in-house engineering team, buying established but underperforming digital products, cutting costs, and running them at...
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