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Sunrise confirms plans for IPO in H1
2015-01-14 07:56:00| Telecompaper Headlines
(Telecompaper) Swiss operator Sunrise has confirmed plans for an initial public offering of shares. The company plans to list on the Swiss Exchange in the first half of this year and raise around CHF 1.35 billion to help reduce its debt. The main offering will consist of new shares, while shareholder CVC will make shares available for a greenshoe option. The aim is to reduce the company's leverage to net debt of around 2.7 times EBITDA. Sunrise said the stronger the balance sheet will open the way for dividends and promised a pay-out of CHF 135 million for 2015. For the year 2014, Sunrise said it expects revenue and adjusted EBITDA were up 2-3 percent, supported by strong customer growth in the fourth quarter of 2014.
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Category:Telecommunications