LiveChat Software - Polish investors, American pricing

February - April 2014

LiveChat Software - Polish investors, American pricing

IPO awarded with the 2014 Golden Clip 2014. The most important challenge was the lack of comparable listed companies. The value of the Public Offering amounted to almost PLN 60 million. The company debuted on the WSE main market and was valued at PLN 476 million at an exceptionally high rate of price / earnings (P / E) of 48,6x.

Initial situation

Shareholders of LiveChat Software SA decided to conduct a public offering and to introduce the company on the Stock Exchange. The most important challenge was the lack of comparable listed companies - operating in the Software as a Service (SaaS) model, with very high growth, noting high margins and being one of the leaders in the industry on a global scale. At the same time the US companies with a similar profile obtained very high valuation. Meanwhile, the number of the surveyed media representatives expected that LiveChat Software SA would be introduced to the NewConnect rather than the main market.

Objectives

The Agency faced the challenge to carry out actions that will enable both the successful public offering of the company and a high valuation for shareholders of LiveChat Software SA

Action taken

In order to prepare and support the public offering of the company, a number of communication activities were condcuted, including educating the market about the potential of the SaaS industry.

Educational activities:

* Partnership publication on SaaS industry in Gazeta Giełdy Parkiet,
* The publication of a number of materials concerning valuations of SaaS companies in the United States and their prospects,
* Placing success stories relating to the Companies in the national media.

Actions to support the IPO:

* A number of press releases,
* Publications on the IPO of the Company,
* Placing success stories relating to the Companies in the national media,
* Organization of the press conference,
* Organization of a multimedia presentation for investors in Multikino Złote Tarasy,
* Investor chat in cooperation with StockWatch.pl,
* The advertising campaign on the Internet and Gazeta Giełdy Parkiet.

Noteworthy is the fact that for the first time in the history of the Polish capital market during the offer consultants of the agency responded to investors' questions via LiveChat solution integrated with the Company's investor website.

Effects

The value of the Public Offering conducted in March 2014 amounted to almost PLN 60 million. On April 11 the company debuted on the main market of the Warsaw Stock Exchange and was valued at PLN 476 million at a very high rate of price / earnings (P / E) of 48,6x. The reduction in subscriptions for shares in the tranche for individual investors amounted to 55%

The project was awarded the 2014 Golden Clip for the best campaign in the Financial PR and Investor Relations.

LiveChat Software SA continues to cooperate with InnerValue

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