Sunrise Communications Debuts on SIX Swiss Exchange as an Independent Company

Sunrise Communications Debuts on SIX Swiss Exchange as an Independent Company

(IN BRIEF) Sunrise Communications AG, a Liberty Global spin-off, has officially listed its Class A shares on the SIX Swiss Exchange under the ticker “SUNN,” debuting at CHF 44.75 per share with a market capitalization of CHF 3.2 billion. The spin-off, approved in October 2024, was executed via a dividend-in-kind distribution of American Depository Shares (ADSs), which began trading on NASDAQ on November 13, 2024. Sunrise CEO André Krause highlighted the company’s strong position in the Swiss telecom market and its plans for growth, cash returns, and a progressive dividend policy. Sunrise’s shares will join the SPI index family on November 22, 2024, marking a new chapter as an independent entity.

(PRESS RELEASE) ZURICH, 16-Nov-2024 — /EuropaWire/ — Sunrise Communications AG (“Sunrise”), previously a part of Liberty Global, has officially become a publicly listed company on the SIX Swiss Exchange. Trading under the ticker symbol “SUNN,” the Class A shares debuted with an opening price of CHF 44.75 per share, giving Sunrise an initial market capitalization of approximately CHF 3.2 billion.

Transition to Independence

Liberty Global first announced its intention to spin off Sunrise on February 16, 2024, with the plan receiving shareholder approval on October 25, 2024. The spin-off was implemented as a dividend-in-kind distribution, where Liberty Global shareholders received American Depository Shares (ADSs) representing Sunrise shares. These ADSs became tradable on NASDAQ on November 13, 2024, while Class A shares began trading on the SIX Swiss Exchange on November 15, 2024.

The shares are expected to be included in the SPI index family starting November 22, 2024, five trading days after the initial listing on SIX Swiss Exchange. No public offering of shares or ADSs was conducted as part of this spin-off.

Leadership’s Vision for Growth

Commenting on the milestone, Sunrise CEO André Krause stated:
“Today is a significant moment as Sunrise embarks on its journey as an independent, standalone company on SIX Swiss Exchange. With a solid number two position in the Swiss telecom market, Sunrise is poised for growth. Our robust infrastructure, combined with high-quality services, positions us to achieve our long-term goals and deliver value to both customers and investors. We are excited to offer an attractive investment opportunity with plans for growth, cash returns, and a progressive dividend policy.”

SIX Swiss Exchange Welcomes Sunrise

Bjørn Sibbern, Global Head of Exchanges and Executive Board Member at SIX, extended his congratulations:
“It’s an honor to welcome Sunrise back to SIX Swiss Exchange. As one of Switzerland’s leading telecom players, Sunrise’s return underscores its commitment to the local market and brings exciting new opportunities for investors. This listing is a fitting conclusion to an impressive year for SIX, following the two largest IPOs globally recorded across its exchanges in Switzerland and Spain.”

A New Chapter for Sunrise

As Sunrise begins its journey as an independent company, it leverages its strong foothold in the Swiss telecom sector and aims to build on its position to achieve sustained growth. With a focus on delivering exceptional customer service and attractive returns for investors, the company’s debut on SIX Swiss Exchange marks a promising start to its next chapter.

About SIX
SIX provides and operates stable and efficient infrastructure for the Swiss and Spanish financial centers, thus ensuring access to the capital markets and the flow of information and money between financial market players. As a global provider of financial information, SIX delivers high-quality reference, pricing, corporate actions, and ESG data and provides regulatory services and indices to clients around the world. The company is owned by its users (more than 120 banks) with a workforce of 4,160 employees and a presence in 19 countries.
www.six-group.com

Media Contact:

Julian Chan
Deputy Head Media Relations
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SOURCE: SIX