ZURICH (Reuters) – Swiss Marketplace Group (SMG) priced shares for its initial public offering at 46 Swiss francs each on Friday, valuing the advertising platform at 4.5 billion Swiss francs ($5.68 billion).
The offer price was at the top of the 43 to 46 francs range given by the online marketplace earlier this month for its IPO on Switzerland’s SIX exchange.
The online property portal, the largest of its kind in Switzerland, was well-received by Swiss and international investors, with the offering oversubscribed several times over.
Trading is expected to begin at 9 a.m. (0700 GMT) on Friday, with a successful IPO paving the way for further listings in Europe.
Equity capital markets advisers have predicted Zurich and Frankfurt will lead an upturn in IPO activity, following a slowdown linked to the uncertainty surrounding U.S. President Donald Trump’s tariffs.
SMG is backed by Swiss media business TX Group, which owns a 30.7% stake, as well as private equity firm General Atlantic that holds an undisclosed minority stake.
($1 = 0.7929 Swiss francs)
(Writing by Miranda Murray; Editing by Jamie Freed and Janane Venkatraman)
