Blue Window given green light to go public
Switzerland's leading Internet provider, Blue Window, is planning a flotation on the Swiss New Market stock exchange. It is expected to take place within the next six months.
A statement from the parent company, Swisscom, said that the timing of the initial public offering (IPO) would depend partly on equity market conditions for Internet stocks.
"The IPO should increase Blue Window capital and considerably strengthen the equity capital base. The IPO will give the young company increased flexibility and provide resources to forge ahead with its successful expansion strategy," the statement said.
Blue Window customers will receive a preferential share offer, and an executive and employee participation programme will be available to the 250 staff members.
It is expected that shares of Blue Window will be quoted on the New Market, the growth segment of the Swiss stock exchange.
Swisscom will continue to be the majority shareholder in Blue Window after the IPO. Blue Window announced in May that its customer base had surged to more than 500,000.
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