It’s done: Sunrise has separated from Liberty Global and once again becomes an independent, publicly traded company. Sunrise shares will be traded from November 13 on the US Nasdaq stock exchange and from November 15 on the Swiss SIX stock exchange.
Updated November 11, 2024: The separation of Sunrise and Liberty Global was approved on October 25. Liberty Global informs that the transaction has been completed. Sunrise is therefore once again an independent Swiss company and will now go public. According to the release, “ADS Sunrise Class A shares will be listed on NASDAQ under the ticker symbol “SNRE” beginning November 13. Sunrise Class A ordinary shares, in turn, will be listed on the SIX Swiss Exchange under the ticker symbol “SUNN” from November 15.”
Original news from February 16, 2024: Liberty Global disposes of Sunrise, which will return to the stock market
Owner of several operators in Europe, the American group Liberty Global announces its plan to sell 100% of Sunrise to its shareholders. The country’s second operator should therefore return to the Swiss Stock Exchange with a listing planned for the second half of 2024. “We are delighted to be listed again on the Zurich Stock Exchange, which allows local investors to benefit from our position as a challenger FMC on the market,” comments André Krause, CEO of Sunrise.
In view of its IPO, Sunrise’s debt will be reduced by 1.5 billion francs, notably through the planned free cash flow and the sale of non-strategic assets to Liberty Global. “Liberty is fully committed to listing Sunrise with a strong capital structure, while maximizing future cash generation potential, which will increase the attractiveness of Sunrise shares and the potential for dividends. », Adds Mike Fries, CEO of Liberty Global.
As a reminder, Liberty Global, then parent company of UPC Suisse, bought Sunrise for 6.8 billion francs in 2020, after an aborted takeover attempt in the other direction. Two years later, once the integration was completed, the entity abandoned the UPC particle and returned to the name Sunrise.
In its press release, Liberty Global indicates that “operational activities will not be affected by this split. Customers, staff, suppliers and all other stakeholders can count on continuity.”
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