The advisors on SMG’s 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. In connection with the operation, Pestalozzi represented Ringier, given its position as shareholder of SMG.

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.

Pictured above from left to right: Philippe Weber, Deirdre Ní Annracháin and Andrea Giger

The Pestalozzi team

The Pestalozzi lineup working on the matter included partners Christoph Lang (pictured), Severin Roelli, and Andrea Huber, counsel Markus Winkler, as well as associates Mercedes Chiabotti and Levy Corba.