CHRONEXT Plans IPO And Listing On SIX Swiss Exchange

CHRONEXT AG, a Swiss digital platform for buying and selling new and pre-owned luxury watches, announced its intention to launch an initial public offering or IPO and list its shares on SIX Swiss Exchange.

The IPO is likely to include new shares from a capital increase as well as secondary shares from certain existing shareholders.

The offering is expected to include a primary component of approximately 250 million Swiss francs to drive organic and inorganic growth, as well as a secondary component from certain existing shareholders.

The company plans to offer shares to private and institutional investors in Switzerland and institutional investors in certain other countries. The IPO is targeted to be completed in the fourth quarter of 2021, subject to market conditions.

CHRONEXT intends to use a portion of the net proceeds from the IPO to drive organic growth, grow the product offering and expand into new geographies.

The company also plans to expand its lounge network and to invest further in its technology, in particular in respect of increasing integration with retailers and brands.

For the year 2021, CHRONEXT is targeting revenue growth of about 40%. Revenue growth is projected to almost double in the short term, while stabilising at just above 40% with an adjusted EBITDA margin reaching mid-single digits in the medium term.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT