The shareholders of the SMG Swiss Marketplace Group plan to raise up to 903 million Swiss francs ($1.1 billion) in an IPO that could become the largest in Europe in 2025. This is reported in a press release from SMG Swiss.
Mobiliar and Ringier AG, as shareholders of SMG Swiss, intend to place 19.6 million shares at a price of 43-46 francs per share, with a total estimated market value of 4.5 billion francs for SMG.
General Atlantic and Ringier investors can sell shares as part of an additional distribution option. TX Group, which owns 30.7% of SMG shares, will not sell shares as part of the offering. Pictet Asset Management Ltd. and BlackRock Inc. intend to buy back shares worth up to 150 million Swiss francs as part of the IPO.
Goldman Sachs Group Inc., JPMorgan Chase & Co. and UBS Group AG are acting as organizers of the offering of shares on the SIX Swiss Exchange. The first day of trading is scheduled for September 19, 2025.
SMG's IPO will be the first major stock offering in Switzerland since Galderma Group AG was listed in March 2024 and will be able to revitalize the IPO market in Europe, which is at a low level in 2025 amid problems related to new US tariffs.
SMG is a Swiss company that manages the ImmoScout24 real estate portal and online markets for cars, finance and insurance, including AutoScout24 brands, tutti.ch and FinanceScout24. SMG was formed in 2021 as a joint venture with the participation of TX Group AG, Ringier, Mobiliar and General Atlantic to combine several online platforms. The headquarters is located in Zurich (Switzerland).
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