Sunrise shares start the first trading day at 44.75 francs
Published: Friday, Nov 15th 2024, 10:40
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Sunrise is now officially back on the Swiss stock exchange. The telecoms provider started its first day of trading on the SIX Swiss Exchange with an opening price of CHF 44.75 per share. This gives the company a market capitalization of a good CHF 3.19 billion.
Sunrise shares opened at an initial price of CHF 44.75 and are now trading slightly lower. Around 60,000 shares are now traded.
Sunrise CEO André Krause rang the traditional stock exchange bell and was beaming from ear to ear when the opening price was shown on the screen. He himself had expected a lower opening price, as he told the news agency AWP.
Good opening had been on the cards
The day before, Sunrise's depositary receipts on the US technology exchange Nasdaq had already risen by 6.2% to 48.00 dollars. This gave Sunrise a market capitalization of 3.4 billion dollars.
It is one of the largest IPOs in the world. Only the IPOs of Lineage in the USA (5.1 billion dollars) and the Midea Group in China (4.0 billion dollars) were larger. In Switzerland, this would put Sunrise well ahead of skincare specialist Galderma, whose IPO in March amounted to just under CHF 2.3 billion.
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