SMG Swiss Marketplace Group Considers $1.2 Billion Zurich IPO in September

SMG Swiss Marketplace Group, the operator of ImmoScout24, is reportedly considering a Zurich IPO in September, potentially raising around $1.2 billion. The company, backed by General Atlantic, is speaking with investors and has appointed a consortium of banks, including Goldman Sachs and UBS, to advise on the deal. The valuation could reach $4.5 billion, making it the largest IPO in Zurich since Galderma's $2.3 billion listing in March.

Swiss Marketplace Group AG (SMG), the operator of property portal ImmoScout24, is reportedly considering an initial public offering (IPO) in Zurich as early as September. The potential offering could raise around $1.2 billion, according to sources familiar with the matter [1].

SMG, backed by investors including General Atlantic, is currently engaging with potential investors and has appointed a consortium of banks to advise on the deal. Goldman Sachs Group Inc., JPMorgan Chase & Co., and UBS Group AG are leading the offering, while Evercore Inc. serves as the financial advisor. Additional banks such as Barclays Plc, BNP Paribas SA, Morgan Stanley, and Zuercher Kantonalbank have also been added to assist with the IPO [1].

The potential valuation of SMG could reach $4.5 billion, making it the largest IPO in Zurich since Galderma Group AG's $2.3 billion listing in March 2024. The timing and structure of the deal remain subject to change, with no final decisions made yet [1].

The Zurich-based company operates online marketplaces for real estate, automotive, finance, and insurance. It also takes advertising on these platforms such as AutoScout24, tutti.ch, and FinanceScout24. SMG employs people in Switzerland, Serbia, Vietnam, France, Germany, and India [1].

The group was formed in 2021 when TX Group AG, Ringier AG, Mobiliar, and General Atlantic launched a joint venture combining multiple online platforms [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-08-21/smg-said-to-eye-1-2-billion-zurich-ipo-as-soon-as-next-month