SAP: Qualtrics' IPO takes shape

(CercleFinance.com) - On Monday Qualtrics, SAP's subsidiary specialising in survey platforms, announced its intention to go public on the Nasdaq.


The Utah-based site - which creates surveys ranging from simple forms to random studies - plans to price its shares at 20-to-24 dollars, according to a document filed last night with the SEC, the US stock exchange authority.

According to analysts, Qualtrics is expected to be valued at over 9 billion dollars, a level that already exceeds the 8 billion dollars SAP paid to acquire the company in 2018.

SAP had announced the planned IPO of its data analysis solutions subsidiary last July, alongside the publication of its Q2 results.

For specialists, this IPO could be a good way for SAP to gain market share with customers who are reluctant to adopt the enterprise software developed by the German group.

In particular, this listing comes in market conditions that have become very favourable once again, with a Nasdaq index that has been at record levels for several months.

SAP - which currently owns 98.6% of Qualtrics - says it wants to keep control by retaining at least 80% of its voting rights.

The SAP share was up over 2% on the Frankfurt Stock Exchange on Tuesday morning after this announcement, putting it in pole position in the DAX index (up 0.7% at the same time).


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