Sunrise plans to go public on the Swiss stock exchange in the final quarter
Published: Monday, Sep 9th 2024, 13:30
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Sunrise is moving closer to independence: the country's second-largest telecommunications group intends to go public on the SIX Swiss Exchange in the final quarter of this year as planned.
With the IPO, Sunrise will return to entrepreneurial freedom, the parent company Liberty Global and Sunrise announced on Monday at the Capital Markets Day in Glattbrugg. The Swiss company will be operationally separated from the US cable network giant. Liberty plans to invest 1.5 billion Swiss francs to reduce Sunrise's debt.
The separation from the parent company Liberty Global is expected to be completed in the fourth quarter of 2024. However, the Sunrise IPO is not a classic IPO with a capital increase, but a spin-off, it was added.
However, business relationships with the previous parent company will remain in place. "Thanks to various service agreements, Sunrise will continue to benefit from the partnership with Liberty Global. Access to technology, financial and other services remains guaranteed," Sunrise wrote.
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