Swisscom privatization is approved; would be Switzerland's largest deal
Article Abstract:
Swisscom AG's privatization has been approved by Switzerland in a transaction valued at roughly two billion Swiss francs. The deal, which will be Switzerland's largest privatization to date, is expected to attract small Swiss investors who wish to hold an interest in the nation's traditional communications leader. The market allowed full competition in the Swiss telecom market in Jan. 1, 1998. Until 1998, Swisscom monopolized Switzerland's 10-million-Swiss-franc telecom market. Since then, new players have entered the market, aggressively placing discounts on phone tariffs and forcing Swisscom to match those discounts.
Comment:
Co's privatization is approved by Switzerland in transaction valued at roughly two bil Swiss francs
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Swiss government sets price of IPO from Swisscom
Article Abstract:
Swisscom AG's IPO price was placed by the Swiss government at 340 Swiss francs per share, notwithstanding the turbulent market conditions. The initial offering happens on Oct. 5, 1998, on the Swiss Exchange, while Swisscom Americom depository shares will be offered on the New York Stock Exchange at $25.30 per share. The company's capitalization increases to approximately 25 billion francs, after the biggest-ever European IPO, which is valued at 7.5 billion francs. That value should increase to 8.6 billion francs should syndicate banks use the overallotment option given to them by the government.
Comment:
IPO price is placed by Swiss government at 340 Swiss francs per share, notwithstanding turbulent market conditions
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Comment about this article or add new information about this topic:
Switzerland sets price of Swisscom's IPO
Article Abstract:
Swisscom AG's initial private offering has been set at 7.3 billion Swiss francs to 9.1 billion Swiss francs ($5.27 billion to $6.57 billion) by the Swiss government representing 30% of the company's increased share capital. Representatives of Swisscom and syndicate banks agreed on an indicative offer price ranging from 330 to 400 francs a share putting the total market capitalization of the company at 24.3 billion francs to 30.2 billion francs. Swisscom's capital after the capital increase for the IPO is based on 73.55 million shares. The company's IPO is the largest in Europe to date.
Comment:
Its IPO has been set at 7.3 bil Swiss francs to 9.1 bil Swiss francs ($5.27 bil to $6.57 bil) by the Swiss government
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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