SMG Swiss Marketplace Group has listed its shares on the SIX Swiss Exchange, marking a notable development in Europe’s initial public offering activity this year.
The shares opened at CHF 48.25 each, giving the company a market capitalisation of approximately CHF 4.7 billion.
Founded in 2021 as a joint venture between TX Group, Ringier, Mobiliar and General Atlantic, SMG Swiss Marketplace Group has established a prominent presence in Switzerland through platforms including Homegate, ImmoScout24, AutoScout24, Ricardo, tutti.ch and FinanceScout24.
The IPO represents a significant step in the company’s growth and provides a foundation for future initiatives and an enhanced market position.
The company’s issued and outstanding share capital consists of 98,145,200 registered shares, of which 19,629,040 existing shares were offered in the IPO.
The issue price was CHF 46.00 per share, resulting in a placement volume of around CHF 903 million, excluding the over-allotment option of 2,944,353 shares.
The listing is expected to provide SMG Swiss Marketplace Group with greater financial flexibility, increased brand visibility and additional liquidity options for shareholders.
The company will be included in the Swiss Performance Index family from September 22.
Christoph Tonini, CEO of SMG Swiss Marketplace Group, said:
“We have been building on the Swiss digital economy and driving our customers’ success through our digital products and services, innovation and dedication from the start. We are proud to be listed on SIX and look forward to the opportunities ahead as a public company.”
Tomas Kindler, Global Head Exchanges at SIX, commented:
“As Switzerland’s most popular online marketplace operator, SMG underscores the strength of Switzerland’s digital economy and the attractive growth opportunities the country provides for ambitious companies. On behalf of SIX, we congratulate SMG on this important milestone and wish them continued success as a publicly listed company.”
Featured image credit: SIX
