SMG’s Backers Seek to Raise up to $1.1 Billion in Swiss IPO (2)

SMG Swiss Marketplace Group’s shareholders are looking to raise as much as 903 million Swiss francs ($1.1 billion) in an initial public offering that could be Europe’s largest this year.

The offering consists of about 19.6 million existing shares from the holders Mobiliar and Ringier AG, being offered at a price of 43 francs to 46 francs a share, according to a Thursday statement. The offering would value the operator of property portal ImmoScout24 as high as 4.5 billion francs. Backers General Atlantic and Ringier could also sell stock as part of an over-allotment option.

There was enough ...