BERLIN Reuters Enterprise software company SUSE set the price range for its initial public offering in Frankfurt at 29 to 34 euros per share on Wednesday, implying a market capitalisation of between 4.9 and 5.7 billion euros 5.96.9 billion.

SUSE, whose opensource software helps run applications on cloud servers, mainframe computers and devices at the edges of networks, said it was seeking to raise around 1 billion euros from investors.

American CEO Melissa di Donato, a veteran of SAP hired by EQT to run SUSE two years ago, has set her sights on sustaining doubledigit revenue growth by both investing in the business and through acquisitions.

The planned IPO will give us the financial and strategic flexibility to accelerate our growth, while continuing to power missioncritical IT applications and workloads that are vital to our customers digital transformation, she said in a statement.

Just over half of proceeds would accrue to SUSE through the issue of new shares, enabling it to reduce its debts as a multiple of core earnings to 3.25 times.

The remaining shares will be sold by Swedish private equity investor EQT, which acquired SUSE in 2018 for 2.5 billion and stands to at least double its money.

The IPO adds to a busy season in Frankfurt, following the 10 billion listing by German usedcar trading platform AUTO1 and a 14 billion debut by Vodafones infrastructure unit Vantage Towers.

Funds managed by Capital Research Global Investors and GIC Private Limited have…