NKF with SMG on IPO offering
Niederer Kraft Frey advised SMG throughout the draft of its prospectus and the start of the book-building process, in sight on the company’s IPO on SIX Swiss Exchange.
The offering entails 19,629,040 existing shares, with an over-allotment option of up to 2,944,353 existing shares. The price for the offered shares ranges from CHF 43.00 to CHF 46.00 per share, eventually resulting in an offer size of between CHF 971 million and CHF 1 billion.
The company
Headquartered in Zurich, SMG is a joint venture between TX Group AG, Ringier, Mobiliar and General Atlantic. The group operates a portfolio of brands within the real estate, automotive, and general marketplaces sectors, with additional price comparison offerings in finance and insurance.
The NKF team
Corporate/capital markets partners Philippe Weber, Deirdre Ní Annracháin and Andrea Giger led the NKF team on the matter, working alongside associates Manuel Hirlinger and Pascal Hodel, junior associates Nina Lötscher, Philip Theiler, Matthias Zinniker and Robin Brändli (all corporate/capital markets). The lineup further included partners Thomas Brönnimann (corporate/capital markets), Markus Kronauer (tax), Philip Spoerlé (banking & finance), Nicolas Birkhäuser (competition) and Simon Bühler (regulatory). Clifford Chance Frankfurt-based partner George Hacket led the Clifford Chance team advising SMG on international law matters.
