Swiss telco Sunrise Communications plans a flotation on the SIX Swiss stock exchange in the first half of this year.

With the expected proceeds from the IPO of CHF1.35 billion (€1.12 billion), Sunrise wants to decrease its debts and realise new growth opportunities.

With more than 3.3 million customers, the company which offers TV, internet, telephony and mobile services is Switzerland’s second-largest telco after Swisscom.

In the 12 months to September 30, 2014 Sunrise achieved a turnover of CHF2 billion (€1.7 billion) and an EBITDA of CHF621 million (€517 million).

In the Swiss mobile market, Sunrise holds a market share of 27% while the market share in the fixed-line business is 9%