The shares of Tamedia AG, a media group, were traded today for the first time on the SWX Swiss Exchange. The offering price was set Sunday night at CHF 260. At the start of trading on SWX, the stock also stood at CHF 260, representing a total market capitalization for the company of CHF 2,6 billion.
According to the offering prospectus, of the 10'000'000 in the Commercial Register registered shares, 2'000'000, or 20% of the company's outstanding stock, were offered to the public. Should the underwriters elect to exercise their green-shoe option, that proportion could rise to 23%.
Tamedia AG is a media group, whose activities are divided into three business segments: print media (newspaper, magazines), electronic media (TV, radio and Internet) and services (printing and distribution). With its wide range of content and distribution channels, Tamedia covers the German-speaking part of Switzerland across all important media platforms.
Tamedia AG founded in 1893 (Wilhelm Girardet & Co.) employs 1'755 individuals and recorded in 1999 revenues of CHF 679,3 million and a gross profit of CHF 130,4 million.
