SMG Swiss Marketplace Group Valued at $5.68B in Oversubscribed IPO

SMG Swiss Marketplace Group, a portfolio company of U.S. private equity firm General Atlantic, has priced its initial public offering (IPO) on the SIX Swiss Exchange at a valuation of 4.5 billion Swiss francs ($5.68 billion). The company announced on Friday that it set its IPO price at 46 Swiss francs per share, positioning it at the higher end of its previously communicated guidance range. The offering generated substantial investor interest, reportedly being oversubscribed multiple times by both Swiss and international investors, according to The Wall Street Journal. Demonstrating strong institutional demand, major asset managers Pictet Asset Management and BlackRock each subscribed for shares valued at 150 million francs. The share sale consists of 19.6 million existing shares. An overallotment option for an additional 2.9 million shares is also included, which could increase the total offering value to as much as 1.04 billion francs if fully exercised. The IPO establishes a free float of 20% of the company's shares, a figure expected to rise to 23% should the overallotment option be fully utilized.