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Sunrise, Switzerland’s Second Largest Telecom, Will Go Public

Xavier Niel iphone-satire


Sunrise Communications raised 1.35 billion Swiss francs ($1.33 billion) for an IPO that is scheduled to occur in a few months. Sunrise, owned by CVC Capital since 2010, will have a listing on the Swiss SIX exchange, and it is currently the biggest telecom in the country after Swisscom. In fact, there is talk that it would be best for Sunrise to join forces with Switzerland Orange, owned by tycoon Xavier Niel, to more effectively compete with government controlled Swisscom, which may be able to charge lower prices. The funds raised by Sunrise, as reported by Marketwatch, will be used to pay off debts incurred by investing in the company.

The Wall Street Journal reported that valuation for Sunrise is at $5 billion francs. The IPO will be the biggest initial public offering in the country since Petroplus in November, 2006. CVC said it would issue shares using greenshoe, which may increase the size of the IPO by 15%. Sunrise expects to pay out 135 million francs of dividend, which will be issued in 2016. Bookrunners for the IPO include Deutsche Bank, UBS, Morgan Stanley  and Berenberg.

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