(Reuters) - Swiss Marketplace Group is set to be valued at up to $5.6 billion in its upcoming IPO on the Swiss stock exchange, which is to take place on or around September 19, major stakeholder TX
Swiss Marketplace Group's IPO Could Reach Valuation of $5.6 Billion
Swiss Marketplace Group's Upcoming IPO
(Reuters) - Swiss Marketplace Group is set to be valued at up to $5.6 billion in its upcoming IPO on the Swiss stock exchange, which is to take place on or around September 19, major stakeholder TX Group said on Thursday.
Market Capitalisation and Share Pricing
SMG has begun its bookbuilding process with an estimated market capitalisation of between 4.2 billion and 4.5 billion Swiss francs. Its shares will be sold for between 43 and 46 Swiss francs ($53.84-$57.60) each, TX Group said in a statement.
Business Operations and Market Presence
The online property portal, the largest of its kind in Switzerland, operates websites including Immoscout24 and car platform Autoscout24, and had announced earlier this month its intention to go public.
Regulatory Scrutiny and Antitrust Checks
SMG is currently being investigated by the Swiss competition authority COMCO, which said on Wednesday it is making preliminary antitrust checks on the business.
($1 = 0.7986 Swiss francs)
(Reporting by Marleen Kaesebier in Gdansk; Editing by Ludwig Burger and Matt Scuffham)
