Swiss telco Sunrise has set the price range for the shares to be issued at its upcoming IPO on the Swiss stock exchange at between CHF58 and CHF78 (€57-€76) per share, valuing the company at between CHF2.8 and CHF3.3 billion in total.
The shares will be listed on the SIX Swiss Exchange on February 6, 2015 or earlier, according to the Zürich-based company.
Sunrise wants to use the proceeds from the IPO of around CHF 1.35 billion to strengthen its balance by reducing its debts and realising future growth opportunities.
Following the IPO, 51.1% to 57.2 % or 58.8% to 65.7 % of the shares will be in free float on the stock exchange depending on whether the greenshoe option will be fully exercised.
With a turnover of CHF2 billion and an EBITDA of CHF621 million in the 12 months up to September 30, 2014, Sunrise is Switzerland’s second-largest telco after Swisscom. The company provides broadband internet, IPTV, fixed-line and mobile telephony services to more than 3.3 million customers.