Swiss Marketplace Group (SMG) shares rose more than 7% after the General Atlantic-backed firm listed on the SIX Swiss Exchange.
Swiss Marketplace Group (SMG) opened strongly on its Zurich stock market debut, as shares traded above the offer price, highlighting strong investor interest. The online marketplace group priced its initial public offering (IPO) at 46 Swiss francs per share, valuing the business at 4.5 billion francs ($5.68 billion).
Shares climbed as high as 7.6% on Friday morning, as investors reacted positively to the listing. The company now trades on the SIX Swiss Exchange under the ticker symbol “SMG”, with inclusion in the SPI index confirmed for Monday.
SMG confirmed the IPO was several times oversubscribed, raising around 903 million francs from the sale of 19.6 million shares by existing holders. Both Swiss and international investors provided strong demand for the offering, which was led by Goldman Sachs Group Inc., JPMorgan Chase & Co., and UBS Group AG.
Asset managers including Pictet and BlackRock each subscribed for shares worth 150 million francs, strengthening the overall placing. The offering has lifted SMG’s free float to 20%, with the potential to rise to 23% if the full over-allotment option is exercised.
What is Swiss Marketplace Group (SMG)?
SMG operates the largest online property portal in Switzerland, featuring popular websites such as real estate platform ImmoScout24 and car marketplace AutoScout24. Other SMG brands include Homegate and Ricardo, while its portfolio also spans both the finance and insurance sectors.
The company was formed in 2021 through a joint venture combining assets from TX Group, Ringier, Mobiliar and private equity investor General Atlantic. Swiss media business TX Group currently owns a 30.7% stake, while General Atlantic holds an undisclosed minority stake.
SMG reported revenues of 290.9 million francs last year, with management reaffirming 2025 growth targets of between 13% and 15% in August. Its successful IPO marks the largest Swiss listing since dermatology group Galderma floated in March this year.
Increased IPO activity expected in Europe
Market analysts expect Zurich and Frankfurt to experience further IPO activity over the coming months, after earlier listings were delayed by global tariff uncertainty. Alarm systems group Verisure recently outlined plans for a €3.1 billion listing, which would represent Europe’s largest IPO in three years.
Equity market specialists described the deal as a potential turning point for European IPOs, after a quieter summer linked to global political tensions. Investors welcomed the combination of strong domestic brand recognition, growing digital activity, and a diversified marketplace model.
The strong SMG debut demonstrates growing confidence in Switzerland’s capital markets, with strong investor appetite for high-profile listings. SMG bosses will now seek to deliver on the firm’s growth ambitions while building momentum as a newly listed company.
Remember to stay updated with all the latest Market News at FXTrustScore.com.
