On 16 February 2024, Liberty Global announced its intention to spin-off Sunrise into an independent publicly listed company at SIX Swiss Exchange. On 25 October 2024, Liberty Global shareholders approved the proposed 100% spin-off of Sunrise to be implemented through the distribution of a dividend-in-kind in the form of American Depository Shares (“ADSs”), whose holders are entitled to convert such ADSs into Sunrise shares.
The Class A ADSs are tradable on the NASDAQ since 13 November 2024 whereas the Class A shares started trading at SIX Swiss Exchange this morning, 15 November 2024. A public offering of both the company’s ADSs and shares did not take place. Sunrise Class A shares are anticipated to be included in the SPI index family five trading days following the first trading day at SIX Swiss Exchange, i.e. as of 22 November 2024.
Sunrise CEO André Krause says: “Today marks the successful introduction of Sunrise as a standalone company on SIX Swiss Exchange. I believe that Sunrise is better and stronger than ever. We are leveraging our strong number 2 position in the attractive Swiss telecom market, and we are well equipped to deliver our long-term vision and to continue serving Swiss customers with high-quality networks and attractive service offerings. The Sunrise shares represent a compelling investment opportunity for existing and new investors. Sunrise is primed for growth and cash returns and we expect an attractive progressive dividend policy.”
Bjørn Sibbern, Global Head Exchanges and Executive Board Member at SIX, highlights: “I am delighted to welcome back Sunrise to SIX Swiss Exchange. It is exciting to see one of Switzerland’s key telecom players deepen its roots here, bringing new investment opportunities to the market. I wish Sunrise every success as it continues its journey as an independent SIX-listed company. This listing rounds off a successful year, after the exchanges of SIX in Switzerland and Spain recorded the two largest IPOs in the world in the first half of the year.”
Further information about Sunrise.