Swiss operator Salt is preparing to float on the Zurich stock exchange in autumn, Reuters reports, citing people close to the matter. The deal could value the company at about CHF 2.5 billion including debt, with the owner, the French billionaire Xavier Niel, seeking to exit the investment, the report added.
Salt’s price could trade at a 10-25 percent discount compared with the stock price of Swisscom, which trades at about eight times its expected core earnings. The company plans to sell CHF 700 million mainly new shares. It has mandated Credit Suisse, Goldman Sachs, Morgan Stanley and BNP Paribas for the IPO, the sources told Reuters.
