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CORRECTED-UPDATE 1-Swiss-based Sunrise sets price range for market debut
2015年1月27日 / 早上8点04分 / 3 年前

CORRECTED-UPDATE 1-Swiss-based Sunrise sets price range for market debut

(Corrects U.S. dollar conversion in first para to $3.66 bln from $6.76 bln)

* Sunrise sets price range at 58 to 78 Sfr per share

* Market capitalisation implied at 2.8-3.3 bln Sfr

* Listing expected on or before Feb. 6

ZURICH, Jan 27 (Reuters) - Swiss mobile telecoms company Sunrise priced its initial public offering (IPO) at between 58 and 78 Swiss francs per share on Tuesday, giving the company an implied market value of up to 3.3 billion francs ($3.66 billion).

The first day of trading on the SIX Swiss Exchange is expected to be on or before Feb. 6, the firm said, in what is potentially Switzerland’s biggest flotation since 2006.

Sunrise -- Switzerland’s No. 2 telecoms operator behind Swisscom and the latest planned capital raising in a lively start to 2015 for European equity markets -- wants to raise 1.35 billion francs to help cut its debt.

The move is also seen as making it easier for Sunrise to merge with Orange Switzerland, recently bought by telecoms tycoon Xavier Niel’s NJJ Capital, in order to put up stronger competition to Swisscom, though there is little sign that any deal plans currently exist.

Sunrise said its plans to list its shares would not be affected by the Swiss National Bank’s decision to abandon its franc cap earlier this month, as the firm earns all of its revenue in francs while the majority of its debt is in euros. ($1 = 0.9021 Swiss francs) (Reporting by Alice Baghdjian and Katharina Bart; Editing by Sunil Nair and David Holmes)

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