SMG Swiss Marketplace Group AG (Ticker: SMG SW) is a Switzerland-based company operating leading online platforms including ImmoScout24, AutoScout24 and Ricardo, focused on e-commerce and digital marketplaces. SMG lists on the SIX Swiss Exchange on September 19, 2025, offering 19.6 million existing shares with an additional 2.94 million shares in a greenshoe option, all from selling shareholders Mobiliar, Ringier and General Atlantic, while TX Group retained its 30.7% stake. The IPO priced at CHF 46 per share, the top of the marketed range, raising CHF 901.6 million (USD 1.12 billion) and valuing the company at approximately CHF 4.5 billion (USD 5.7 billion). The deal was fully covered within an hour of bookbuilding and attracted cornerstone investors such as BlackRock and Pictet. Proceeds went entirely to existing shareholders, making SMG the largest European IPO of 2025 to date and one of Switzerland’s biggest listings in recent years, with BNP Paribas, Barclays and Morgan Stanley as global coordinators.