Sunrise said it expects raise approximately CHF1.35 billion (€1.35 billion) in the offering, which it will use to reduce its debt.
The firm said it has seen “strong indications” of investor interest and that it has agreed to sell 4.3 million shares in the base offering, corresponding to CHF250 million at the lower end of the price range.
Sunrise expects its first day of trading on the SIX Swiss Exchange to be on or before 6 February 2015, and said that it will use the proceeds from the IPO to “substantially strengthen” its balance sheet and “exploit future growth opportunities.”
“The IPO marks a new chapter in Sunrise’s history and brings exciting opportunities to the company, its clients and its employees,” said Sunrise CEO Libor Voncina.
“The overall telecoms sector across Europe and in Switzerland is benefiting from the strong growth in mobile data and convergence, and our IPO will help us make the most of these opportunities, whilst strengthening our positioning as an innovative and customer-centric market leader.”